Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

K+S says capital increase could be used to lure anchor investor

Published 2016-05-11, 09:23 a/m
© Reuters. K+S says capital increase could be used to lure anchor investor
SDFGn
-
POT
-

KASSEL, Germany, May 11 (Reuters) - German potash miner K+S
SDFGn.DE , which last year fended off a takeover approach by
larger rival Potash Corp POT.TO , is ready to increase its
capital to make it easier for a potential anchor investor to
take a stake, its chief executive said.
"When you're talking to people who are thinking about taking
a larger slice of K+S and to become an anchor investor, you do
hear 'I don't want to accumulate 5, 6 or 10 percent over the
stock market, that's too much work, you have to present this to
me in a more custom-built way', we can now do this via our
authorised and contingent capital," CEO Norbert Steiner told
shareholders at the annual general meeting on Wednesday.
Separately, finance chief Burkhard Lohr said at the AGM he
expected the group's new potash mine in Canada, known as Legacy,
to make positive earnings contributions before interest and tax
from 2018 on, even though potash prices had fallen below initial
projections.
Lower gas and energy prices as well as a lower Canadian
dollar, in which most costs are incurred, versus a stronger U.S.
dollar, in which future revenues will denominated, are helping
the investment case, he added.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.