Poland plans Grupa Azoty’s de-Russification

Poland has appointed a temporary compulsory administrator for the assets of Russian oligarch Viatcheslav Kantor at Grupa Azoty. Kantor currently holds a 19.8% stake in Grupa Azoty, valued at over PLN 0.5 billion.

Minister of Development and Technology Waldemar Buda said that Kantor's presence as a Russian shareholder in Grupa Azoty could hinder the group's ability to raise capital for development projects. Kantor's shares are currently frozen, thus preventing him from exercising voting rights at shareholders' meetings. The minister announced that Poland would now seek a buyer for the stake. 

Kantor's assets amount to about $5.3 billion, according to Forbes, placing him among the top seven hundred wealthiest individuals. Kantor holds citizenship in Russia, Great Britain, and Israel. His fortune primarily stems from investments in the fertilizer industry.