Ameropa to pay over EUR 100mn for Romanias largest fertilizers maker Azomures.

By bne IntelliNews November 1, 2011
Swiss-registered grain and chemicals trader Ameropa Holding is negotiating for taking over US-registered investment vehicles Eurofert Investments and Azomures Holdings that own altogether 75.6% of Romania's largest fertilizers producer Azomures, Ziarul Financiar daily reported. The 75.6% stake is valued at EUR 109mn at current market prices, after the company's shares gained 40% yesterday and accumulated 145% since the year start. The price paid for the stake would thus exceed EUR 100mn but might reach EUR 275mn, according to the analysts polled by the daily. Azomures reported sales of EUR 285mn and a net profit of EUR 36.5mn last year amid strong demand for fertilisers driven by high crop prices, but also helped by a government's decision that allowed chemicals companies to buy natural gas at low, regulated price. In H1 this year, the company improved its sales by 61% y/y to EUR 205mn while its net profit was EUR 38mn.

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