About Phosagro

Phosagro is one of the world’s leading producers of phosphate-based fertilisers. Its core line of business is the production of phosphate-based fertilisers, high-grade phosphate rock, and also feed phosphates, nitrogen fertilisers and ammonia. The Company is Europe’s largest producer of phosphate-based fertilisers, the world’s largest producer of high-grade phosphate rock.

The company is based in Moscow, Russia, and its subsidiaries include Apatit, a company based in the Murmansk Region and engaged in the extraction of apatite rock.

Phosagro’s primary assets include Apatit (Cherepovets, Vologda region), Kirovsk branch of Apatit, Balakovo branch of Apatit, Metachem, Phosagro-Trans, Phosagro-Region and NIUIF.

Phosagro is publicly listed company. The parcel of shares of “Phosagro” belongs to billionaire Andrey Guryev. The second largest shareholder of Phosagro, Vladimir Litvinenko (19.4%), is the rector of the National Mineral Resources University of Saint Petersburg. Litvinenko headed the presidential election campaign team of Vladimir Putin in Saint Petersburg in all elections since 2000.

First owner of group's assets was Menatep of famous Russian billionaire Mikhail Khodorkovsky. The firesale of assets to current owners happened after court litigation against Yukos. The owners also disputed the court decisions for fines on tax avoidance. This was the first case in history of Russian court system, when the state paid compensation to the accused company.

In 2017 Her Majesty's High Court of Justice has accepted the claim by Igor Sychev against the Phosagro. Sychev demands 1% of company shares or their value in money, approximately 55 million dollars, and also 8 million dollars in cash, as his remuneration for defending Phosagro interests in court. This was dispute of previous court decisions for fines on tax avoidance. Phosagro has won on the case and all charges were dropped.

The defendants are Phosagro, vice-president of the Council of Directors of the Phosagro, Andrey Guryev, and former chairman of the Committee of Labour Protection of the Council of Directors of Phosagro, Igor Antoshin, as well as Seychelles-based offshore company Parmas Corporation and Belizean offshore company Avec Ltd. Now the judge has given a permission to open proceedings against all aforesaid defendants.

Sources: Forbes, Wikipedia