An Arbitration Court in Russia's Perm region has blocked a multi-billion dollar merger between major fertilizer producers Uralkali and Silvinit pending a suit filed by rival fertilizer firm Akron, which owns 8% of Silvinit's voting shares, a court official told RIA Novosti on Monday.
On February 24, Akron, Licona (International) Limited, Medvezhonok Holdings Limited, and ROF (Cyprus) Limited filed a suit declaring the merger invalid. The court suspended the registration of Silvinit's termination and also Uralkali's additional share issue, which was intended to be swapped for Silvinit shares.
MOSCOW, February 28 (RIA Novosti)
