UC RUSAL to Finish Norilsk Deal This Week

Norilsk Nickel former co-owners Vladimir Potanin and Mikhail Prokhorov announced over the weekend that hey had reached agreement on assets division in an investment vehicle that controls a major stake in the nickel giant. Potanin will buy out Prokhorov’s 50% holding in KM-Invest, 8-percent-stake shareholder in Norilsk Nickel, in return for Prokhorov taking over parts of the holding’s portfolio in the real estate, insurance and banking sectors. Thus Potanin will hold a 33 percent stake in Norilsk, but there are already doubts over Prokhorov’s ability in 25% plus one share interest that has been promised to UC RUSAL. UC RUSAL said it has been poised to complete the deal with Norilsk by this weekend, but the company didn’t tell the specific figure of the deal that in cash. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.