Uralkali Dives as Belarus Detains CEO After Split: Moscow Mover
This article is for subscribers only.
OAO Uralkali tumbled the most in three weeks after the chief executive officer of the world’s biggest potash producer was detained in Belarus.
Vladislav Baumgertner was charged with abuse of office in Minsk today, Pavel Traulko, a spokesman for Belarusian investigators, said by phone. Uralkali sank 19 percent on July 30 after announcing its split from Belarusian Potash Co., or BPC, a joint venture that controlled about 40 percent of global potash exports. Baumgertner is chairman of BPC and faces as long as 10 years in prison if found guilty.