With the signing of the document, the final condition under the conditional agreement of September 25th 2013 on the sale of 4,675,000 shares in Kopalnie i Zakłady Chemiczne Siarki Siarkopol, representing 85% of its share capital, was satisfied. The transaction was valued at PLN 320,003,750, which amount was transferred to the Ministry of State Treasury’s bank account on November 15th 2013. 

Paweł Jarczewski, President of the Management Board of Grupa Azoty, noted upon signing that “Today, Siarkopol officially became one of the pillars strengthening Grupa Azoty. Apart from our Senegalese project and the diversification of natural gas supplies to the Group, this transaction is one of the key components of our efforts to secure access to strategic raw materials. And at the same time, our trade expertise will allow Siarkopol of Grzybów to find new export markets for its products.” 

“Under the agreement, we have pledged to invest a total of PLN 30m in Siarkopol. Our main focus will be on the most important tasks, namely stabilising production and improving sulfur granulation level and quality,” commented Witold Szczypiński, Vice-President of Grupa Azoty. 

After conducting the necessary anti-trust proceedings earlier this year, on October 30th the President of the Office of Competition and Consumer Protection approved the concentration, involving takeover of Kopalnie i Zakłady Chemiczne Siarki Siarkopol by Grupa Azoty S.A.