Vienna, 19th September 2007 – Nitrofert, the 100% subsidiary of Ostchem Holding AG (Austria), a Group DF company, today announced that it intends to participate in the state-run auction of JSC “Odessa Port Plant”, the second largest producer of ammonia and urea in Ukraine, currently owned by the State.
Nitrofert has registered as a bidder for Odessa Port Plant and has obtained the relevant auction documentation. So far, eight other companies have registered as bidders.
The starting price in the auction, scheduled to be held on 29 October 2007, has been set at Hrivna 2.5bn, or circa US$500m but given the serious competition for this asset, the final figure is likely to be considerably higher. The auction was approved by the Government of Ukraine on 8 August 2007, and formally announced by the State Property Fund of Ukraine on 17 August 2007.
On the participation of Nitrofert in the auction for Odessa Port Plant, Robert Shetler-Jones, CEO of Group DF Limited, commented: “We view this auction as a valuable opportunity in line with our business strategy. Odessa Port Plant and Nitrofert are involved in similar chemicals production operations, and the acquisition of Odessa Port Plant would therefore substantially boost our market share in this sector.”
For more information:
Group DF
Email: info@groupdf.com
Nitrofert
Email: info@nitrofert.ee