OREANDA-NEWS. Uralkali (LSE: URKA; “the Company”) informs that the federal court in Chicago has confirmed settlement agreementsnegotiated by the Company to exit the US antitrust cases. On 6 June 2013, the US District Court for the Northern District of Illinois approved the agreement with direct plaintiffs for USD 10 million, and on 12 June – the agreement with indirect plaintiffs for USD 2.75 million was also approved.

In September 2008, potash consumers brought direct and indirect purchaser civil antitrust complaints in the US federal courts against Uralkali and BPC, as well as certain other potash producers, including Belaruskali, Potash Corp, Mosaic, Agrium and Silvinit. The complaints alleged price fixing violations of the U.S. Sherman Act since 1 July 2003.

On 20 September 2012, Uralkali negotiated a settlement agreement with direct and indirect plaintiffs subject to the final confirmation by the US court, which has been achieved this week. Under the settlement agreements, Uralkali would be released from any liability in connection with the plaintiffs' claims. BPC, as a defendant, would also be released as well as other Uralkali and Silvinit traders – IPC and Uralkali Trading SA. Uralkali did not admit any liability in the settlement agreements. We believe that these settlements are in the best interest of the Company to avoid the burdens, costs and distraction of protracted litigation.