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