Violation of investors’ rights linked to hostile take-over attempt by Russian company Uralchem
Andreas Zivy, President of the Board of Swiss grain and fertilizer company Ameropa, has invited the Russian government to an international arbitration.
The Russian chemical company Togliattiazot saw authorities arrest both dividends payable and the minority stake of Ameropa under controversial circumstances. Ameropa officially presented a ‘Notice of dispute’ under the Swiss-Russian Investment Protection Treaty on October 23rd, 2015.
Despite numerous reminders by both the company and the Swiss authorities Russia did not give any reply to this Notice within the six months ‚cooling period‘ outlined in the treaty’s stipulations. As a next step foreseen in the Treaty, Ameropa has now invited the Russian government to submit the dispute to an international arbitration.
The hostile take-over attempt by the Russian company Uralchem is marked by the violation of the rights of the investors. Uralchem is controlled by Dmitry Arkadievich Mazepin and holds a minority stake in Togliattiazot. ‘Shareholders are being pressured to sell their shares to Uralchem, and that far below fair value’, Andreas Zivy states. ‘The courts have dismissed all evidence presented. A greedy oligarch is abusing the system and thereby damaging international investments in Russia.’
Founded 1948, Ameropa in Binningen near Basel is a private Swiss trading and production company for Grains and Fertilizers. For more information, please see the website www.ameropa.com.