The Hellenic Navy (HN) (Greek: Πολεμικό Ναυτικό, Polemikó Naftikó, abbreviated ΠΝ) is the naval force of Greece, part of the Greek Armed Forces. The modern Greek navy has its roots in the naval forces of various Aegean Islands, which fought in the Greek War of Independence. During the periods of monarchy (1833–1924 and 1936–1973) it was known as the Royal Navy (Βασιλικόν Ναυτικόν, Vasilikón Naftikón, abbreviated ΒΝ).The total displacement of all the navy's vessels is approximately 150,000 tons.The motto of the Hellenic Navy is "Μέγα το της Θαλάσσης Κράτος" from Thucydides' account of Pericles' oration on the eve of the Peloponnesian War. This has been roughly translated as "Great is the country that controls the sea". The Hellenic Navy's emblem consists of an anchor in front of a crossed Christian cross and trident, with the cross symbolizing Greek Orthodoxy, and the trident symbolizing Poseidon, the god of the sea in Greek mythology. Pericles' words are written across the top of the emblem. "The navy, as it represents a necessary weapon for Greece, should only be created for war and aim to victory."...............The Hellenic Merchant Marine refers to the Merchant Marine of Greece, engaged in commerce and transportation of goods and services universally. It consists of the merchant vessels owned by Greek civilians, flying either the Greek flag or a flag of convenience. Greece is a maritime nation by tradition, as shipping is arguably the oldest form of occupation of the Greeks and a key element of Greek economic activity since the ancient times. Nowadays, Greece has the largest merchant fleet in the world, which is the second largest contributor to the national economy after tourism and forms the backbone of world shipping. The Greek fleet flies a variety of flags, however some Greek shipowners gradually return to Greece following the changes to the legislative framework governing their operations and the improvement of infrastructure.Blogger Tips and Tricks
This is a bilingual blog in English and / or Greek and you can translate any post to any language by pressing on the appropriate flag....Note that there is provided below a scrolling text with the 30 recent posts...Αυτό είναι ένα δίγλωσσο blog στα Αγγλικά η/και στα Ελληνικά και μπορείτε να μεταφράσετε οποιοδήποτε ποστ σε οποιαδήποτε γλώσσα κάνοντας κλικ στη σχετική σημαία. Σημειωτέον ότι παρακάτω παρέχεται και ένα κινούμενο κείμενο με τα 30 πρόσφατα ποστς....This is a bilingual blog in English and / or Greek and you can translate any post to any language by pressing on the appropriate flag....Note that there is provided below a scrolling text with the 30 recent posts...Αυτό είναι ένα δίγλωσσο blog στα Αγγλικά η/και στα Ελληνικά και μπορείτε να μεταφράσετε οποιοδήποτε ποστ σε οποιαδήποτε γλώσσα κάνοντας κλικ στη σχετική σημαία. Σημειωτέον ότι παρακάτω παρέχεται και ένα κινούμενο κείμενο με τα 30 πρόσφατα ποστς.........

Monday, February 28, 2011

Russian potash merger ..[ 2133 ]

Russian potash merger facing fresh legal challenge

MOSCOW | Mon Feb 28, 2011 4:33am EST
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MOSCOW (Reuters) - Russian potash miners Uralkali (URKA.MM) and Silvinit (SILV.MM) are set for a new legal challenge to their merger from fertilizer group Acron (AKRN.MM), which wants a better deal for its small Silvinit stake.
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Uralkali (URKAq.L) and Silvinit (SILV.RTS) -- both majority owned by billionaire tycoon Suleiman Kerimov and associates -- agreed merger terms at a shareholder meeting earlier this month.
The combined group would be the world's second biggest producer of potash, a key ingredient of fertilizer used in farming, creating a Russian national champion in a global industry.
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Acron has long opposed the deal and unsuccessfully sought a court injunction to postpone the crucial shareholders' meeting that approved the merger in early February.

It believes the terms of the deal are stacked against minor shareholders in Silvinit and strongly favor those in Uralkali.
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"(Acron is) again attempting to challenge the share conversion ratios duly approved by the shareholders of both companies and (is) seeking an injunction to block the merger-related procedures," Uralkali said in a Monday statement.
"Uralkali and Silvinit believe that the claim is entirely without merit and intend to contest it vigorously," it added.
Acron's stance was backed late last year by Moscow's Investor Protection Association and many analysts. Ill treatment of small shareholders has long been seen as a deterrent to overseas investors in Russia, who consider corporate governance standards at many companies to be unacceptable.
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Uralkali said Acron and three investment groups had filed a claim against the two potash companies in a court in Perm, a city east of Moscow close to Uralkali's home base of Berezniki.
The claim is seeking to scrap the decision to approve the merger, overwhelmingly supported by other shareholders and expected to be completed in May.
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A spokeswoman for Acron declined to comment.
Russian business daily Vedomosti reported earlier this month that Acron's Chief Executive Ivan Antonov had asked Prime Minister Vladimir Putin to stop the deal, although Kerimov is known to be an ally of Russia's most powerful politician and is likely to have secured his backing.
(Reporting by John Bowker; Editing by Jon Loades-Carter)
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