Uralkali (Berezniki, Russia), a leading global producer of potash, announced on Friday that its board of directors has approved an increase in a previously approved share buyback program. The buyback increases to 704,643,813 of common shares, accounting for 24% of the company’s share capital, for a total purchase price of up to $2.26 billion. The original buyback program was approved on 24 August and is being carried out by way of a tender offer by Enterpro Services, an indirect subsidiary of the company.
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