The nutrient sector consolidation drive hit another bump as Uralchem denied that it was – currently – up for sale, in the second setback to fertilizer merger hopes within a month.

The Russian fertilizer group, the world's second biggest producer of ammonium nitrate, dismissed as "incorrect" a report in Russia's Vedemosti newspaper that it was being prepared for takeover.

Uralchem was reported to have approached chemical groups over a sale, with managers at three groups telling Vedomosti that they had received proposals to buy all or part of the group, which analysts have valued at about $2bn.

However, Dmitry Mazepin, the Uralchem chairman and major shareholder, said: "We can confirm that no sale of the company or some part of the company's assets is currently under negotiation."

He added, however, that the Moscow-based company, which also manufactures urea and phosphate fertilizers, had attracted suitors.

"Just like other large companies in the industry, from time to time we receive offers to sell a part of the assets that belong to Uralchem Group," he said.

Tie-up hiccup 

The comments represent the second dent within a month to Russian fertilizer sector consolidation expectations, after Uralkali's merger with potash peer Silvinit was put on ice following legal pressure from Akron, a major buyer of the nutrient.

Courts on Friday eased terms of an injunction over the tie-up, Uralkali said, with a hearing into Akron's objections scheduled for April 12.

Uralchem, which has debts of about $1.4bn, last year pulled a stockmarket flotation in London after volatile markets and the Icelandic volcano eruptions dented investor sentiment.

The group in January revealed it had lifted by 10% to 4.86m tonnes its fertilizer output last year, ahead of a target of 4.5m tonnes, helping it to a production target of 5.5m tonnes in 2014.