VEB.Russia sold the

the VEB.Russia has closed the sale of 100% shares of JSC “Ammoni” and the rights of requirements of the industry investor KAO “Nitrogen” for $900 million.

“So KAO “Azot” became the new owner of the plant, and the web.Russia, having difficult structured a deal completely out of the asset”, — stated in the message of the Corporation.

due to the devaluation of the ruble and reduction of prices on nitrogen fertilizer JSC “Ammonium” can’t service the debt, and in 2019, the Arbitration court has entered supervision procedure (bankruptcy) against enterprises. After that, the VEB initiated the process of involving investor in the company, the results of which they became KAO “Nitrogen”.

on 10 July the Arbitration court of the Republic of Tatarstan approved a settlement agreement in the framework of bankruptcy procedure of JSC “Ammonium”.

Then the portal KazanFirst noted that “Ammonia” will repay the debt to VEB in the amount of 111,7 billion. To happen the process will be as scheduled until June 30, 2025.

meanwhile, according to the materials of the case, between VEB and “Ammonium” from 2011 to 2014 were signed four credit agreements under which the Bank granted the plant more than $1.8 billion principal debt of the borrower as of November last year rose to $1.6 billion outstanding debt was more than $363 million.

As previously pointed out “BUSINESS Online”, 30 August 2019, the largest creditor of Mendeleevsk fertilizer plant “Ammonium” on the web.Russia decided on the investor. It was reported that 100% of the shares in the result of a complex transaction should accrue to the billionaire list Forbes, the Chairman of the Board of Directors of the AEON Corporation Roman Trotsenko, is closely associated with the President of “Rosneft” Igor Sechin. It was assumed that controlled Trotsenko KAO “Nitrogen” will redeem the debts of the plant for $900 million from the Bank, leaving the Corporation with a major loss.

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