Early June, Ameropa launched a buyout offer for 24.12% in Azomures at a price of 2.2 lei (EUR0.492) a share, but it has acquired only 20.56%. The offer closed on Monday.
Ameropa paid RON240.1 million for the additional shares, according to preliminary data.
In March, Ameropa completed the acquisition of a 75.87% stake in Azomures, for an undisclosed amount. As the Swiss company now owns over 95% in Azomures, it can delist the Romanian fertilizer from the Bucharest bourse if it so chooses.
Azomures reported a net profit of RON46.5 million in the first quarter, up 5% on the year, on total sales of RON446.4 million. The company’s market value is RON1.09 billion.
At around 15:20 Monday, Azomures traded down 7.53% at RON2.01 a share. (EUR1=RON4.4654)