- The Group’s portfolio investments are liquid assets and are therefore included in the shareholder value. The Group may raise additional funds at any time through monetisation of these assets.
- Return on sales of financial investments may be used for investments, debt service and dividend payment.
Stake in Uralkali
In 2014, the Group sold a portion of its stake for RUB 4 bn, thereby decreasing its interest from 1.77 to 0.93%. The market value of Acron’s remaining stake in Uralkali was RUB 3.5 bn as of 31 December 2014.
Stake in Grupa Azoty
In the first half of 2014, the Group increased its shareholding in the Polish company Grupa Azoty from 15.34% to 20%. The market value of the Group’s stake as of 31 December 2014 was RUB 20 bn.