In order to reduce the debt RUSAL may sell its stake in the “Norilsk Nickel” – News Agency “Khakassia”

In order to reduce the debt RUSAL may sell its stake in the "Norilsk Nickel" – News Agency "Khakassia"

Khakassia, 19.09.14 09:47

The company En + Group Oleg Deripaska, controlling shareholder of RUSAL, may resume talks to write off 28 percent of the shares “Norilsk Nickel” with a balance of RUSAL, said in an interview with Bloomberg Head of En + Maxim Juice. The possibility of the sale of shares in the “Norilsk Nickel”, said Prime.

According to the juices, it is “on the allocation of shares” Norilsk Nickel “, together with a portion of the debt,” which drew RUSAL for the implementation of this acquisition.

Share of “Norilsk Nickel” was acquired before the crisis in April 2008, the businessman Mikhail Prokhorov. To purchase RUSAL syndicated loan for $ 4.5 billion. Now the total debt burden of aluminum is about $ 10 billion.

 

“Active discussions on this topic / disposal of shares” Norilsk Nickel “- Ed, Ed / Now is not conducted, but the idea is not dead. Discussion of this issue may be resumed,” – said the head of the En +.

 

Juice did not explain whether it is the sale of the “Norilsk Nickel” or external customers on the redistribution of assets among entities controlled by Deripaska.

Alienation package “Norilsk Nickel” will enable RUSAL to resume dividend payments to its shareholders before 2017, says Michael juices. Aluminum Company does not pay dividends in 2008. But amid the recovery of the aluminum market RUSAL expects to resume dividend payments in 2017.

 

“Win RUSAL” Norilsk Nickel “based on the market capitalization of September 18 is estimated at 8.8 billion dollars. Complete capitalization RUSAL slightly more – $ 9 billion by the end of trading on the Hong Kong Stock Exchange. RUSAL fundamentally undervalued by the market”, – said juices.

 

Package Selection “Norilsk Nickel” of the assets of the company will reduce debt and allow the market to reassess RUSAL expects BCS analyst Kirill Chuyko.

RUSAL and “Interros” Vladimir Potanin are major shareholders ” Norilsk Nickel. ” After a long conflict, these shareholders in December 2012 entered into a settlement agreement brokered Roman Abramovich. Under its terms, “Interros” and RUSAL agreed not to reduce the share capital of the nickel group of less than 20 percent of the shares until 2017. After 2017, the shareholders can apply the mechanism of “Russian roulette” to repurchase shares from each other, to the text of the settlement agreement. For breach of contract penalties.

A representative of “Interros” did not comment on the idea of ​​alienation RUSAL share “Norilsk Nickel”, noting that “all transactions in shares must meet the shareholders’ agreement”.