Chemgas Holding buys Amonil's assets in legal settlement

Chemgas Holding Corporation that filed court claims against chemical fertilizer manufacturer Amonil Slobozia (BSE: AMO) for an unpaid debt to Chemgas, has agreed to buy the 57.13 million lei worth assets, at a total price equal to the overdue account.

The fertilizer production platform, two warehouses, a homeless shelter, work apartments, sport center and another idled production facility previously used for the manufacturing of Furfurol have been sold in a public auction.

Earlier this week, majority shareholder of Chemgas Holding rejected the request filed by Amonil Slobozia (BSE: AMO) against creditor Chemgas for postponing the divestiture of the chemical fertilizer manufacturer of a part of its assets.

Salink Limited, minority shareholder of Amonil called for a new shareholders meeting in late September to approve a capital hike that would cover the outstanding debt to Chemgas Holding Corporation.

The company has a share capital of 111.26 mln lei, divided into 1.11 bln shares at a face value of 0.10 lei.

The main shareholders of the company are Zalois Ltd with 32.19% stake, Jovline Ltd with 18.22% while Salink Limited holds 13.54%. Eurom Trade & Invest holds 5.07%.

The company has a capitalization of 20.3 mln lei (€4.76 mln), according to yesterday’s closing quote of 0.0183 lei/share.


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