OREANDA-NEWS. March 2, 2011. In furtherance of the announcement on the proposed merger of OJSC Uralkali ("Uralkali") and OJSC Silvinit ("Silvinit") approved by shareholders of both companies on 4 February 2011 Uralkali is pleased to announce that on 28 February 2011 it completed the acquisition from Otkritie Securities Limited of 1,565,151 ordinary shares in Silvinit, representing approximately 20% of the ordinary share capital of Silvinit, for USD 1.4 bln.

Commenting on the completion of the acquisition, Vladislav Baumgertner, Chief Executive Officer of Uralkali, said:

We are pleased that the first stage of the proposed combination of Silvinit with Uralkali is now completed, and look forward to the successful completion of the merger of the two companies, which will create a leader in the global potash market.