September 28, 2016 11:25 PM ET

Metals and Mining

Company Overview of ZAO Verkhnekamskaya Potash Company

Company Overview

ZAO Verkhnekamskaya Potash Company explores potash deposits. The company is based in Moscow, Russia. ZAO Verkhnekamskaya Potash Company operates as a subsidiary of JSC Acronit.

Moscow,  

Russia

Key Executives for ZAO Verkhnekamskaya Potash Company

ZAO Verkhnekamskaya Potash Company does not have any Key Executives recorded.

ZAO Verkhnekamskaya Potash Company Key Developments

VEB To Sell VPC's Stake

State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) plans to sell a stake (10% minus one share) in Joint Stock Company Acron's (MISX:AKRN) ZAO Verkhnekamskaya Potash Company. Under the deal, the bank has called for bids to assess the market value of the stake. Bids are accepted until August 9, 2016. Results will be announced on August 23, 2016. The chairman of the Acron's Board of Directors, Alexander Popov, states that Acron is most likely to buy back its share in Verkhnekamskaya from VEB. The deal should be completed no later than November 2016.

Indian Consortium Reportedly Eyes Verkhnekamsk

A consortium of Indian companies led by NMDC Limited (BSE:526371) intends to acquire 30% stake in Joint Stock Company Acron (MICEX:AKRN). According to Indian media, the consortium consist of National Fertilizers Ltd. (BSE:523630), Rashtriya Chemicals And Fertilizers Limited (BSE:524230), The Fertilisers And Chemicals Travancore Limited (NSEI:FACT) and KRIBHCO Shyam Fertilizers Limited. However, Acron said earlier that the talks concern the sale of 30% stake in the operator of the potash project ZAO Verkhnekamskaya Potash to Indian investors. The deal could be worth INR 10 billion, according to Economic Times. The purchase agreement could be signed in 2015 during President Vladimir Putin's visit to India, the newspaper reported.

Acron Reportedly In Talks For Stake Sale In Verkhnekamskaya Potash Company

Joint Stock Company Acron (MICEX:AKRN) is in discussions with the Indian investors regarding divesting 30% stake in ZAO Verkhnekamskaya Potash Company (VKK), AK&M reported. The price of the stake can only be defined in 2015 after the negotiations.

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