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M&A: MCC EuroChem buys 20.1% of Astrakhan Oil-and-Gas Co. for RUB 1.34 billion

In February 2014, MCC EuroChem acquired 20.1% of the shares in OJSC Astrakhan Oil-and-Gas Company for RUB 1.34 billion, EuroChem reported.

It will be recalled that in July 2013, MCC EuroChem applied to Russia's Federal Antimonopoly Service for permission to purchase 100% of the shares in the oil and gas company. The competition authority resolved that EuroChem should secure approval of the Government commission.

OJSC Astrakhan Oil-and-Gas Company (ANGK) was established in 1999 to develop the right-bank section of the Astrakhan gas condensate field. The company was licensed to develop a site containing 220 bcm of gas and 20 million tonnes of oil but never launched oil production. Today, Gazprombank owns 74.87% of ANGK shares, the remaining shares belonging to the Agency for State Property Management of Astrakhan region.

OJSC Mineral and Chemical Company EuroChem (tax number: 7721230290) is Russia's largest producer of mineral fertilizers, one of the three European and 10 global industry leaders uniting mining, manufacturing enterprises, logistics companies, and a sales network in various regions of the world with a total of ca. 23 thousand employees.

IFRS net loss of MCC EuroChem for Q1 2014 was RUB 966 million against a profit of RUB 4.819 billion for the same period in 2013. Revenue from goods and services grew by 6% to RUB 49.416 billion from RUB 46.651 billion.

According to the DataCapital information retrieval system, RAS net profit of EuroChem for 2013 went up 45.3% to RUB 29.931 billion. Revenue increased to RUB 1.587 billion from RUB 1.456 billion, income from participation interests in other entities to RUB 33.08 billion from RUB 20.036 billion.

"AK&M", 21.05.2014


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