EuroChem Hires Goldman for $1.3 Billion Russian Acquisition

OAO EuroChem, Russia’s largest maker of nitrogen fertilizer, hired Goldman Sachs Group Inc. to advise the company on a possible acquisition of 80 percent of OAO Minudobreniya that will value the rival at $1.3 billion.

Rossosh, as Minudobreniya is also known, is part-owned by Yara International ASA (YAR), EuroChem said in a statement today.

Lawmaker Nikolai Olshansky and businessman Alex Rovt, who jointly control Rossosh, have been trying to sell it for more than $1 billion to Ukraine billionaire Dmitry Firtash, co-owner of natural-gas trader Rosukrenergo, Vedomosti said yesterday.

Rossosh officials weren’t immediately available for comment when Bloomberg News called the company’s offices today.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.