Romania's Romgaz reportedly makes offer to take over major fertiliser producer Azomures

The takeover of Romanian fertiliser producer Azomures by the state-controlled gas company Romgaz has advanced, according to state secretary Cristian Buşoi, who mentioned an offer with a still confidential value. Furthermore, Romgaz (BVB: SNG), a company listed on the Stock Exchange, has not had an official communication on this subject.

Azomures is currently held by the Swiss group Ameropa, and the negotiations with Romgaz have so far failed to reach an end amid disagreements over the price.

Busoi hinted that the takeover decision was taken by the government and must be implemented by the company. Busoi said that “there is a principled decision by the Romanian government [and Romgaz] must take all these things into account; Romgaz must take over Azomureş."

“There are some advanced discussions; there is even a clear, concrete offer made to the shareholders of Azomureş. I cannot go into much detail, because these are confidential matters," mentioned Cristian-Silviu Buşoi, according to Agerpres and Ziarul Financiar.

The employees of the troubled company Azomures are pressing for state intervention.

According to ProTV, the unionists are demanding the resumption of the platform's activity or at least a viable solution that would protect jobs at Azomureș, a prompt response and real dialogue at the level of the Ministry of Energy, measures that take into account the social and economic impact in Mureș County, and support measures for the affected families and for the communities dependent on the plant's activity.

(Photo source: Inquam Photos/Adel Al-Haddad)