Indorama, RDIF May Announce ~$800m Fertilizer Deal: Kommersant

Bloomberg, 14.11.2018

By Andrey Biryukov

(Bloomberg) -- Asian chemical holding Indorama Corporation and the Russian Direct Investment Fund will buy control of the Tatarstan-based manufacturer of nitrogen fertilizers Ammoni, Kommersant reports, citing unidentified people familiar with plans.

* Transaction size may be ~$800m, with Indorama getting a stake at least large enough to be the controlling shareholder

* Agreement scheduled to be signed Nov. 14

* Investor will help bring co.’s products to major Asian markets

* Indorama, RDIF signed agreement on joint implementation of investment projects in Russia, according to a RDIF news release

* Indorama, RDIF didn’t immediately respond to Bloomberg requests for comment

* NOTE: Russian President Vladimir Putin is in Singapore today for ASEAN summit