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Potash firms Uralkali and Silvinit complete tie-up

By Daily Mail Reporter
Updated: 04:31 EDT, 17 June 2011

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Russian potash giants Uralkali and Silvinit have completed a merger to create a £15bn giant expected to pursue a London listing.

While he stressed that no final decision has been taken, the chief executive of the combined company Vladislav Baumgertner said a London listing was a 'good option for the future'.

The tie-up creates a company that will churn more than 10m tonnes of potash a year, making it the world's second largest producer behind Canada's PotashCorp, the subject of a failed £24bn bid from BHP Billiton last year.

The next move for Suleiman Kerimov, a major shareholder in Uralkali, could be a bid for Belaruskali after Baumgertner said it was an 'interesting acquisition target'.

He could then combine the businesses to overhaul PotashCorp at the top of the world's potash pile.

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