Stranger things shroud Togliattiazot shares

The Cyprus-based company Nitrogeno United Group announced the acquisition of a controlling stake in Togliattiazot with its majority shareholders.

“Uralchem has nothing to do with Nitrogeno United Group. As follows from the open sources, it’s a Cyprus offshore company. The purchasing of a controlling stake in Togliattiazot is possible only at a public auction. Moreover, the deal has to be approved by the Federal Antimonopoly Service (FAS). But FAS didn’t issue such a permit. Most likely, it’s fake information that looks like Sergey Makhlai’s attempt to withdraw his property from a foreclosure procedure,” said the press-service of Uralchem, which is a shareholder of Togliattiazot.

Togliattiazot can produce about 3 million tons of ammonia and 960 thousand tons of carbamide per year.