Romanian state-controlled Romgaz (BVB: SNG), as a potential buyer, will continue takeover negotiations with Swiss Ameropa, the main shareholder of the country's largest fertilizers producer Azomures, but the negotiations will be held purely on a commercial basis, according to a government press release after prime minister Ilie Bolojan met representatives of Ameropa Grains Romania and Romgaz. Ameropa reportedly expects for Azomures twice as much as Romgaz proposed in a first, non-binding offer. 

A key element in the deal is the natural gas supplies, which Romgaz might secure for Azomures, particularly after it starts production at Neptun Deep offshore perimeter in 2027.

"Negotiations between the two companies will begin soon, with a view to identifying a solution for concluding the transaction, in compliance with the legal provisions, the applicable corporate framework, and the legitimate interests of the buyer," the government statement said.

In the last 12 months, Azomureş, the largest fertilizer producer in Romania, and state-owned company Romgaz have held discussions regarding a possible acquisition of the industrial platform in Târgu Mureş, but negotiations reached an impasse at the beginning of this year.

According to market sources cited by Ziarul Financiar, Romgaz at one point submitted a non-binding financial offer to Ameropa, but at a price below its expectations. The price offered by Romgaz was under EUR 100 million, while Ameropa was expecting an amount of around EUR 200 million.

In a response to Ameropa-appointed management at Azomures publicly reporting the deal as stalled, Romgaz said it is not affected by the announcement and that it cannot offer more than what resulted from its own evaluation, because it cannot harm the interests of shareholders.

The state-controlled company said it is interested in investing in fertilizer production, either by buying Azomureș assets or investing in other projects.

In 2024, Azomureş had record losses of RON 505 million (EUR 100 million) and revenues of RON 1.6 billion (EUR 320 million).

The company announced in January 2026 that it would send approximately 600 employees on technical unemployment and that all major maintenance and service contracts would be suspended or significantly reduced.

iulian@romania-insider.com

(Photo source: Facebook/Azomures)