Merger announced of Russian potash giants

摘要

Uralkali and Silvinit announced Dec. 20 that the two companies will merge, creating the world's second largest potash producer. The new Russian firm will be worth US$24 billion. The news has been anticipated, as earlier this year Russian billionaire Suleiman Kerimov and investors took controlling interests in the two Russian companies. The plan is for Uralkali to buy 20 percent of Silvinit with a $1.4 billion cash payment. The rest of the company will be acquired though new share offerings.