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Bucharest
December 9, 2022
BUSINESS

Ameropa Holding offers EUR 63 M for 24 pc of Azomures

Swiss Group Ameropa Holding, one of the largest agricultural traders in Europe, has filed a EUR 63 M bid for 24 per cent of the shares of Azomures (AZO) chemical fertilizers producer, zf.ro informs. This is the largest takeover on the Bucharest Stock Exchange after the Kazakhs took over Rompetrol Rafinare (RRC) in 2010. The offer evaluates Azomures at EUR 262 M. The Swiss indirectly took over Azomures at the start of this year, by buying two companies that jointly controlled 76 per cent of Azomures’s shares. The companies were owned by seven Turkish investors. The value of that transaction was not revealed, however analysts estimate that it ranges from EUR 200 M to EUR 300 M. Ameropa offers a price of RON 2.2 per share, 8 per cent higher than the stock quote of RON 2.04.

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