Rus News Journal

Impractical purchase

Akron has bought 12 % Azoty Tarnw on the eve of large dopemissii

Akron all - taki became large minoritariem the Polish manufacturer minudobreny Azoty Tarnw. For 12 % of actions Vyacheslav Kantora`s holding has laid out about 100 million dollars However soon this and without that the small share will be washed away to modest 7 %.

Akron has informed yesterday that as a result of the offer to shareholders Azoty Tarnw it became the owner of 12,03 % of this Polish company. Proceeding from the offer price - 45 Polish zloties (about 13,3 dollars) For the action - for all package the Russian holding has paid more than 100 million dollars

But happiness Akron can be short. Last week shareholders Azoty Tarnw have voted for carrying out dopemissii actions, the authorised capital stock of the Polish company will increase at once by 75 %. New actions will go on payment of papers of group Zaklady Azotowe Pulawy (2,5 actions Tarnw will exchange on one action Pulawy). Then a share Akron in Tarnw about 6,9 % will be washed away.

experts of the market guess that Akron is going to do with the minority share. probably, managers Akron consider that when Tarnw will unite with Pulawy, it will be so attractive active, what even the minority share is worthy of it - the analyst Polish Raiffeisen Centrobank Dominik Nishch argues. In most Akron daily have explained that is simple On - former are interested in this active . In the Russian company do not exclude that in the future can try to increase the share, however it will depend first of all on market conditions.

the Minority package will not give to Akron possibilities considerably to participate in management of the company. However, the Polish legislation gives the chance minoritarijam to protect the rights, the lawyer " speaks; JUkov, Horse-radishes and partners Taron Egiazarjan. For protection of interests minoritariev the state has obliged the companies to hold meeting of shareholders on which the report of board and the report for the last fiscal year are considered and affirm, decisions on profit distribution " are made; - the lawyer lists. To convoke extraordinary meeting of shareholders and put forward questions on the agenda of the next meeting shareholders only from shares over 10 % can. But this right can be given and to the holder of smaller percent of shares - the expert underlines.

Originally Akron hoped to collect 66 % of actions Azoty Tarnw, however even increase of the price of the offer on 25 % has not convinced the majority of shareholders Tarnw to leave the papers. Especially disturbed to plans Akron the Polish government (the state - principal shareholder Tarnow from shares of 32,05 %), actively agitating minoritariev Tarnow to refuse the offer of the Russian company. the question for Poland carries political implied sense. The investor from an eurozone would be more preferable to the Polish party for many reasons, but now the European companies are not inclined to large investments in manufacture - analyst IFK " considers; Solid Elena Yushkov.

Who from shareholders of the Polish company all - taki was flattered on the offer Akron while it is not clear. On the eve of the transaction pension funds ING (14,43 %), Aviva (9,98 %), Generali (5,21 %) and group PZU (10,39 %) were the largest minoritarijami. I do not think that it someone from large Polish investment funds. Most likely, it is foreign funds and individual investors - considers Dominik Nishch. On the eve of the tender at affilirovannoj with Akron Agroberry Ventures there were 1,19 %. Whether this structure participated in the offer, in the company have not opened.