EuroChem buys controlling stake in Brazil's Fertilizantes Tocantins

Russian agrochemical company EuroChem Group AG said on Wednesday it had acquired a controlling stake of 50 percent plus 1 share in Fertilizantes Tocantins, a leading fertilizer distribution company in Brazil. It did not disclose the size of the deal.

"The acquisition is in line with EuroChem's strategy to strengthen its presence in the fast growing Latin American fertilizer market," the Russian company said in a statement.