Azomures feeds 3.4m euro into Chimpex

Chemical fertilisers producer Azomures Targu Mures is to invest 125bn ROL (3.4 million euros) in a capital increase at Chimpex Constanta, one of the main harbour operators in the Constanta Harbour area. Azomures is Chimpex’s majority shareholder with 74.3%. The money Azomures will contribute represents the investment commitment it signed up to when it acquired Chimpex. With the increase being performed through an exertion of pre-emption rights, Chimpex’s share capital will be increased by no more than 168bn ROL (4.6 million euros), with minority shareholders allowed to subscribe in direct proportion to their respective stakes. “Chimpex’s majority shareholder, Azomures, intends to perform this increase in order to comply with the investment obligation undertaken in Chimpex’s privatisation contract on the one hand, and to provide the funds required by the upgrades for the company on the other,” said Mihai Zaharia, chief executive officer of Chimpex. ZF