34. Significant subsidiaries
08
| Name | Country of incorporation | Effective shareholding as of 31 December 2011 |
Effective shareholding as of 31 December 2010 |
|---|---|---|---|
| Ammophos, OJSC | Russia | 94% | 94% |
| Apatit, OJSC 1 | Russia | 58% | 58% |
| Balakovo Mineral Fertilizers, LLC | Russia | 100% | 100% |
| Cherepovetsky Azot, JSC 2 | Russia | 69% | 69% |
| NIUIF, OJSC | Russia | 94% | 94% |
| PhosAgro AG, CJSC | Russia | 100% | 100% |
| Agro-Cherepovets, CJSC | Russia | 100% | 100% |
| PhosAgro Region, LLC | Russia | 100% | 100% |
| PhosAgro-Trans, LLC | Russia | 100% | 100% |
| Region-Agro-Belgorod, LLC | Russia | 100% | 100% |
| Region-Agro-Don, LLC | Russia | 100% | 100% |
| Region-Agro-Kuban, LLC | Russia | 100% | 100% |
| Region-Agro-Kursk, LLC | Russia | 100% | 100% |
| Region-Agro-Lipetsk, LLC | Russia | 75% | 75% |
| Region-Agro-Oryol, LLC | Russia | 100% | 100% |
| Region-Agro-Stavropol | Russia | 100% | 100% |
| Region-Agro-Volga, LLC | Russia | 87% | 87% |
| Trading house PhosAgro | Russia | 100% | 100% |
1. including preferred shares
2. see note 17 on put-call option agreement on acquisition of shares in JSC “Cherepovetsky “Azot”.
(a) Consolidation of OJSC “Apatit”
As at the reporting date the Group held 50% of ordinary and 80.28% of preferred shares in OJSC “Apatit”. The remaining ordinary and preferred shares are widely held. In accordance with the subsidiary’s charter, under certain circumstances, holders of preferred shares are entitled to vote in the meetings of the shareholders. As at the reporting date the preferred shares were voting. Management believes that the current shareholding allows the Group to exercise control over OJSC “Apatit”.
Notes to the Consolidated Financial Statements
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