OJSC PHOSAGRO: Mgmt Brd Approves Apatit Shareholders Compulsory Buyout

OJSC PHOSAGRO: Mgmt Brd Approves Apatit Shareholders Compulsory Buyout
For Immediate Release                                          20 February 2013 
PhosAgro Management Board Decides to Launch Compulsory Buyout of Apatit
Moscow - PhosAgro (or "the Company") (Moscow Exchange, LSE: PHOR), a leading
global vertically integrated phosphate-based fertilizer producer, announces
that the Company's management board at its first meeting on 18 February 2013
decided to launch a compulsory buyout of all remaining shares owned by minority
shareholders of OJSC Apatit. 
PhosAgro CEO and Management Board Chairman Maxim Volkov said: "This decision is
fully in line with our strategy of consolidating our ownership of the minority
stakes in PhosAgro's subsidiaries." 
PhosAgro's management board decided to launch the compulsory buyout offer after
the stake in OJSC Apatit's authorised capital owned by PhosAgro and its
affiliated parties surpassed 95% as a result of the mandatory buyout offer made
to Apatit shareholders. Today the Company's stake in Apatit equals 95.95%.
PhosAgro has spent a total of RUB 5,904 million on the mandatory buyout. 
PhosAgro's mandatory buyout offer was launched as a result of the Company's
victory in the tender for the Russian Federation's 20% stake (26.67% of
ordinary shares) in Apatit. This resulted in PhosAgro's ownership of Apatit
exceeding 75%, as it increased to 77.57%. PhosAgro's winning bid of RUB 11,110
million was the highest price offered by tender participants. 
PhosAgro plans to finish the consolidation of its ownership in Apatit before
the end of this year. 
For further information please contact: 
OJSC PhosAgro 
+7 495 231 2747
Irina Evstigneeva, Head of Corporate Finance and Investor Relations
Timur Belov, Press Officer 
Sam VanDerlip
+44 (0) 20 7920 2356 
Notes to Editors 
PhosAgro is a leading global vertically integrated phosphate-based fertiliser
producer. The Group focuses on the production of phosphate-based fertilisers,
feed phosphate and high-grade phosphate rock (with P2O5 content of not less
than 39 percent), as well as ammonia and nitrogen-based fertilisers. 
The Group is the largest phosphate-based fertiliser producer in Europe, the
largest producer of high-grade phosphate rock worldwide and the second largest
MAP/DAP producer in the world (excluding China), according to Fertecon.
PhosAgro is also a leading producer of MCP feed phosphates in Europe, and the
only producer in Russia. 
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of high
quality apatite-nepheline ore, representing over 75 years of production. The
Group also controls substantial Al2O3 resources and has 41% of Russia's rare
earth oxides resources according to the G.P. Luzin Institute of Economic
Problems of the Kolskiy Scientific Centre of the Russian Academy of Sciences,
The Group's mines and phosphate rock production facilities are located in the
mountainous areas of the Kola Peninsula in the Murmansk region of northwest
Russia, whereas its fertiliser and feed phosphate production assets are located
near the city of Cherepovets in the Vologda region and near the city of
Balakovo in the Saratov region of southwest part of European Russia. PhosAgro's
2011 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.2 bln. The С
ompany's net debt/EBITDA ratio was 0.43 at 31 December 2011. 
For further information on PhosAgro please visit: www.PhosAgro.com 
-0- Feb/20/2013 07:00 GMT
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