Romania's Chimcomplex confirms talks for taking over fertilizers maker Azomures

Romanian largest chemical group, Chimcomplex, in a note to investors on October 8, confirmed the existence of preliminary discussions related to taking over the fertilizers maker Azomures (currently owned by Swiss Ameropa) as part of the group's desire to consolidate the chemical industry in Romania.

Azomures is the largest fertilizer producer and the largest natural gas consumer in Romania.

However, Chimcomplex emphasized that no decision has been made regarding a possible transaction.

"We will inform the investors in accordance with the applicable legal provisions at the moment when such an approach becomes certain," reads the Chimcomplex note to investors.

Swiss group Ameropa is considering the sale of the fertilizer producer Azomures in central Romania due to high gas prices, which prevent the continued operation of the plant, according to Economedia.ro.

Local entrepreneur Stefan Vuza, who owns the Chimcomplex chemical group, was reported as a prospective buyer. Sources from Azomures also confirmed the talks with Chimcomplex.

At the same time, the Romanian natural gas company Romgaz, controlled by the state, was also reported as another potential buyer – but the company did not comment.

(Photo source: Facebook/Azomures)