SDS Azot acquired Mendeleevsk Ammoni
Kemerovo Azot (part of SDS Azot) made all required payments to Vnesheconombank (VEB) and became the owner of the Ammoni plant (Tatarstan, city of Mendeleevsk).
On July 10, Tatarstan Commercial Court has approved an amicable agreement between VEB and Ammoni plant in the framework of the case of Ammoni bankruptcy. The main condition of the Court’s decision is that VEB receives $900 million for the sale of the receivables of the Ammoni plant to Kemerovo Azot.
VEB’s Supervisory Board approved the deal in August 2019. The deal included restructuring Ammoni’s debt, reestablishing its solvency and discharging it from bankruptcy proceedings.