Aluminium production enterprises UC Rusal
ONEXIM Group is informal talks to sell 17% UC Rusal to the owners of this company Sual Viktor Vekselberg and Glencore, but as long as the parties can not agree on a price, sources tell Bloomberg
ONEXIM Mikhail Prokhorov is considering selling its 17% UC Rusal, Russia’s largest aluminum producer, reports Bloomberg, citing two sources familiar with the situation. Over the past three months, the group made “unofficial” attempt to sell his share to the other two co-owners of UC Rusal – Sual group led by billionaire Viktor Vekselberg (seventh place in the Russian Forbes list, assessment of the state – $ 10.5 billion), and one of the largest in the world traders Glencore, reported the agency interlocutor. Now Sual -15,8% UC Rusal, from Glencore – 8,75%
There are no formal negotiations have not taken place, because the views of buyers and sellers on the price of the package diverge, according to the agency.. Onexim wants to get a premium to the current market price, and potential buyers are not willing to provide it, says Bloomberg sources. At the Hong Kong Stock Exchange stake in 17% UC Rusal is now worth $ 825.6 million. The representatives of Glencore and Onexim, and En + Oleg Deripaska (owns 48,1% UC Rusal) declined to comment, a spokesman for Vekselberg has not yet responded to a request to RBC. UC Rusal spokesman said that with the company Onexim not negotiate about the share repurchase
On Monday, the newspaper “Vedomosti” reported that ONEXIM sells not only its stake in UC Rusal, but other Russian assets. – energy company “Quadra” IC “Concord”, banks “Renaissance Credit”, “Renaissance Capital”, IFC stake in “Uralkali” and the developer OPIN and media holding RBC.
in response to this, CEO Dmitry Razumov, Onexim said the group did not take a decision on the sale of all assets. “We are currently negotiating the purchase and sale, attracting partners in respect of certain assets”, – he said, adding that many of these talks “lasted several years.” “To do on the basis of the fact of negotiations conclude” the sale of all assets in Russia “is incorrect. No decision on this issue we have not accepted “, – he stressed. Razumov separately stressed that special attention be given to the group intends to develop banking institutions “Renaissance Credit”, “Renaissance Capital”, the IFC and the insurance company “Consent”. Shares in UC Rusal and “Uralkali” is not on this list.
In May 2016 it became known that the share buy back in ONEXIM “Uralkali” may be the company itself. As reported RBC sources familiar with the terms of the deal, “Uralkali” has attracted $ 1.7 billion from Sberbank to buy back its shares from Onexim. But a few days ago, the source of RBC close to ONEKSIM, argued that the decision to sell the stake in “Uralkali” yet.
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