Mr. Albert Avdolyan has acquired GMZ leach plant
The shareholders of GMZ leach plant have sold the company to Mr. Albert Avdolyan. GMZ was on the verge of bankruptcy, with more than US$75 million of outstanding debt.
Albert Avdolyan is a private investor, former owner of Yota, one of the largest telecommunications companies in Russia.
GMZ leach plant, located in the Stavropolsky region in Russia, is the largest manufacturer of copper sulfate and various mineral fertilizers in the area. Founded in 1954, the plant has a monthly production of 15,000 tons. The key products in its portfolio are water-soluble granular phosphate fertilizers and potassium sulfate, widely used in agriculture. GMZ exports its products to more than 60 countries worldwide.
Oaklins’ team in Russia acted as the exclusive financial advisor to the buyer in this transaction. The team negotiated with key creditors and shareholders and, as a result, the plant will resume its operations shortly.
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