Acron has decided not to participate in the tender to sell 1,666,213 federally owned registered common shares of Apatit, which constitute 20% of its authorised capital. For this reason, the Group withdrew its request that the Russian Federal Antimonopoly Service provide preliminary approval of the share purchase transaction. Furthermore, Acron also withdrew its request that Rosimushchestvo (the Federal Agency for State Property Management) find the tender rules invalid.
Acting Acron President Alexander Popov commented on the decision:
“This year we will produce our own apatite concentrate at Oleniy Ruchey, so the stake under privatisation is not strategically important to us anymore. That is why we have revised our priorities and decided to focus our financial efforts on other areas, specifically on further implementation of our own raw material projects.”