Romgaz acquires Azomures

Romanian state-controlled gas supplier Romgaz signed an agreement 29 May to acquire all production assets of fertilizer producer Azomures for a total consideration of approximately euro 69 million ($80.15 million), according to a report filed with the Bucharest Stock Exchange. The transaction price comprises euro 46.46 million ($53.96 million) for the plant assets, plus up to $11 million for the book value of consumables and raw materials, and $15 million to cover operating costs during the period between signing and completion. The deal is financed entirely from Romgaz’s own sources. The transaction completion remains subject to approval by Romgaz’s Extraordinary General Meeting of Shareholders, an unconditional clearance from Romania’s Competition Council, and approval from Bucharest’s Foreign Direct Investment Screening Commission (CEISD).

The acquisition follows a prolonged process. Romgaz first expressed interest in Azomures in early 2025, but talks stalled in January 2026 when Azomures mothballed its production facilities, citing uncompetitively priced natural gas. On 7 May, the two parties announced they had reached an agreement in principle on the main commercial terms, with Romgaz estimating board endorsement by end of May at the latest. Azomures, owned by Switzerland-based trading firm Ameropa, is Romania’s largest chemical fertilizer producer, with a capacity of 475,000 t/a of urea, 462,000 t/a of AN and 660,000 t/a of UAN. The plant has not produced fertilizer since August 2024, barring limited output in the second half of last year. Around 75% of its output was traditionally sold into the domestic market.