Uralkali Agrees on $7.8 Billion Takeover of Silvinit

OAO Uralkali, Russia’s largest potash producer by market value, agreed to buy OAO Silvinit for $7.8 billion in cash and shares to benefit from rising demand.

Uralkali will purchase 20 percent of Silvinit from Otkritie Financial Corp. for $1.4 billion, or $894.50 a share, the Berezniki-based company said today in a statement. It will buy the rest for new shares worth $6.4 billion as of Dec. 13.