The shareholders of Romgaz approved the acquisition of the Azomureș plant, granting the management a mandate to finalize the transaction.

The shareholders of SNGN Romgaz approved, on Monday, the acquisition of the Azomureș plant in Târgu-Mureș, granting the management a mandate to carry out the necessary formalities to finalize the transaction. The transfer agreement has been signed, and Romgaz will pay 69 million euros, of which over 46 million euros represents the value of the plant.

The transaction requires obtaining approvals from the Competition Council and the Commission for the Examination of Foreign Direct Investments. Azomureș is the largest producer of chemical fertilizers in Romania, having a significant annual production capacity. In March, the plant began the collective dismissal procedure, and the acquisition by Romgaz aims to maintain the industrial capacity.

Azomureș supplies approximately 75% of the domestic production of chemical fertilizers, and Romgaz aims to continue production activities.