14.01.2011 • NewsUralkaliSilvinitRussia

Uralkali, Silvinit Merger Recommended by ISS

Russian potash miner Uralkali said on Thursday that the ISS proxy advisory service recommended shareholders vote in favor of its planned merger with domestic rival Silvinit.

"This merger is certainly compelling based on the strategic rationale alone," the ISS said in a report sent to Uralkali.

"The two companies are similar in many respects, including in terms of production and strategy. The expected gains from cost savings and scale can be substantial."

The recommendation comes after minority shareholders in Silvinit last month demanded a revision of the merger terms, which they said favored Uralkali as it will receive a larger portion of the combined business.

Fellow listed fertilizer group Acron, which owns 8 percent of Silvinit shares, voted against the deal at a board of directors' meeting and is expected to do so again at the shareholders' vote on February 4.

Both companies are controlled by Russian billionaire tycoon Suleiman Kerimov and associates, who are aiming to consolidate their potash empire into a single Russian champion and the world's second-biggest producer.

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

Interview

Specialty Chemicals in a Shifting World
Adapting to Tariffs and Strengthening Regional Networks

Specialty Chemicals in a Shifting World

Jennifer Abril, President & CEO of SOCMA, discusses the impact of new tariffs and the importance of regional supply networks in the specialty chemical industry.

most read

Photo
19.03.2025 • News

Arkema Launches Acrylic Acid Purification Project

Arkema has announced the launch of its Carat Project at its Carling site in France. This initiative aims to enhance the capabilities and sustainability of the facility, which specializes in producing acrylic monomers and superabsorbent polymers.

Photo
13.03.2025 • News

Roche and Zealand Pharma Collaborate on Weight Management Drug

Swiss pharma heavyweight Roche announced has entered into an exclusive collaboration and licensing agreement with Denmark’s Zealand Pharma. Under the terms of this agreement, the two companies will collaborate to co-develop and co-commercialize petrelintide, Zealand Pharma’s amylin analog as a standalone therapy as well as a fixed-dose combination with Roche’s lead incretin asset CT-388.