Police fail to secure refund on Senegalese assets on time

Police, a subsidiary of WSE-listed chemicals group Azoty did not secure payment and guarantees before the deadline from its former investment partner Senegalese DGG Eco, the company said in a market filing. Back in December, both sides have signed a conditional deal to reverse the purchase of Senegalese phosphate firm Afrig. Police were to get back $28.85 million it initially paid for the asset. The new deadline was set for March 16. “We are conducting talks with DGG Eco Sp. z o.o., which is working on meeting the agreed terms for finalization of the agreement,” Police said. The amount was to be paid back in installments by end-2022.