MOSCOW, July 4 -. RIA Novosti / Prime Rumors of an impending total sale of Russian assets of the group “Onexim” a little warmed the interest of speculators in the securities of “Rusal”, the “BRIC”, but analysts polled by RIA News, believe that to realize all the assets on the market in the current circumstances it is simply impossible, and reminded that the negotiations on the various sales “Onexim” is a long time.
Earlier on Monday, the newspaper “Vedomosti” reported that the group “Onexim” Mikhail Prokhorov has announced the sale of its Russian assets. The Group owns assets in mining and metals industry: packages in the “Rusal”, “Uralkali” in finance – insurance company “Consent” bank “Renaissance Capital”, “Renaissance Credit”, IFC Bank, energy company “Quadra”, the developer OPIN as well as media assets – RBC and “snob”.
The decision was made by supposedly after the April raids in spring of this year, the Federal Security Service, together with the tax authorities raided and seized documents in a number of structures Prokhorov. Security officials have linked this action to the investigation of the criminal case on the bank “Tauride”.
The Kremlin called absolute nonsense allegations of government pressure on the employer to the sale of assets. “No, this is nonsense There can be no question.”, – Told reporters on Monday, presidential spokesman Dmitry Peskov
Later CEO Dmitry Razumov, the company also said that to draw conclusions about the sale of all. assets on the basis of individual negotiations on transaction incorrectly. “The group was, is and will be an important player in the Russian market, while retaining a strategic interest in investing in our country,” – said Razumov
In the FAS press service of the RIA Novosti news agency said that while applications for purchase of shares. ” Onexim “in the” BRIC “,” Rusal “and” Quadra “service is not received
yourself buyer
it is obvious that the placing on the market of the largest Russian assets.” Onexim “- 17.02% stake in “Rusal” and 20% of shares of “BRIC” in the current environment is virtually impossible, the only way – selling a particular customer. And given that the major shareholders of each company are unlikely to tolerate another “strategist”, the shareholders themselves are only and may act as potential buyers, experts say.
“The company (” Rusal “- Ed.) Is not easy: controlled almost one shareholder does not pay dividends, debt is still large I think the buyer find will be very difficult in terms of candidates (for the purchase of shares owned..” ONEKSIM “) is very difficult to say, to be honest, no one even does not occur”, – says senior analyst “Aton” Andrew Lobazov
The agency Bloomberg, citing sources also wrote that “Onexim” considering the sale. securities and may withdraw completely from the “Rusal”. Against the background of these reports the value of the shares of “Rusal” grew throughout the day.
To attract the interest of investors to the securities may be the prospect of generous dividends, said principal analyst “VTB 24″ Stanislav mites. He noted that if the major shareholders of “Rusal” will want to take advantage of the right to buy the share of “Onexim” in the aluminum company, they are keenly interested in dividend payments from the company.
The only option
buying a stake “Onexim “in the” BRIC “theory might be interested in the main consumers of potassium – China and India, says the analyst” VTB Capital “Elena Sakhnova. “But, as you know, the Chinese fund Chengdong Investment Corporation, on the contrary, came out recently from the” BRIC “I think China has not yet come to be, given what is happening there.”, – She said.
The second shareholder of “BRIC” Dmitry Mazepin and the company doing everything to ensure that the company was not public: constantly held buy back, was held delisting from the London Stock Exchange. “India could theoretically be interested in, but I think, based on the experience of China, again, do not dare,” – added Sahnova
Accordingly, there remains three potential acquirer: a strategic investor in Russia itself “Uralkali”. , a company which also belongs to Dmitry Mazepin. The analyst reminded that earlier there were reports of a possible purchase of the package “Uralchem”. “Perhaps there are some others who were ready to buy, but we about them know nothing.” – She said
“Hardly Dmitry Mazepin would be happy. have any more a strategist I know he wanted to be a major shareholder in the “BRIC” I doubt that now someone is willing to take an interest in the “BRIC” in the current situation on the potash market, “-… said Sahnova
“either the second shareholder (” Uralkhim “- Ed.), or” Uralkali “will acquire other options especially not in general market conditions, well..” Uralkhim “probably does not want to see anybody partner” Uralkali “- I agree analyst at Raiffeisenbank Constantine Yuminov
at the same time.” Uralkali “, according to experts – the pass option: despite the large debt burden, the company, in contrast to the” Uralhima “, more can afford increase it and buy this package.
Impossible Finance
selling group other assets, including in the financial sector in the current unstable situation also does not look real, experts say. It is understood, and to the “Onexim” – the statement of the general director said that the group still intends to pay attention to the development of banking institutions – the “Renaissance Credit”, “Renaissance Capital”, the IFC – and the insurance company “Consent” Bank “Renaissance Credit”, in which “ONEKSIM” owns 100% from January to June was a loss under RAS in the amount of 1.8 billion rubles, in 2015 was a loss of 8 billion rubles.
“The last two years the bank is unprofitable. The assets and capital of the bank is reduced. The Bank is very small. Without the support of business majoritarian” Renaissance Credit “, is likely to be unstable and require immediate recapitalization, as can happen depositors churn and growth of profitability on bonds, “- says financial analyst” Finam “Timur Nigmatullin
.” in any circumstances Prokhorov will not come out of the bank’s capital, at least in the next few years until the stabilized situation in the banking sector is now observed. the first green shoots on the market “, – said Nigmatulin
Do not know about plans for the Prokhorov-owned 47.4% of the shares.” International financial club “(IFC). The other shareholders are the Chairman of the Board, co-owner of Evraz Alexander Abramov and businessman Viktor Vekselberg (by 19.71%) and Ekaterina Ignatova (13.14%). In late April, the bank additionally capitalized by shareholders for 3 billion rubles
Quadra waiting
Since 2011, “Onexim,” is trying to sell, and its energy assets -. “Quadra”, for example, “Gazprom energy” and “Inter RAO”, but the deal did not receive approval from the Federal Antimonopoly service. In 2014 the media reported about the possible purchase of “Quadra” French EdF, but the deal was accomplished.
After the searches conducted by the FSB in the group of companies “Onexim,” rumors about the impending sale “Quadra” intensified. Reuters, citing its sources reported that buy “Quadra” can Evgeny Dod, who led at the time of the company’s board of directors. However, the company, and he denied it. Later on Dodd was arrested on suspicion of fraud committed, by corollary, during his leadership of the company “RusHydro”.
“Quadra” is the energy and heat supply company that operates in 10 regions of central Russia. At the same time, the company has problems to execute its investment obligations for the construction of four new power units. The company does not have time to build them in time, and for that it threatens billions in fines (estimates range from 1.1 to 6 billion rubles).
“Quadra” pre-agreed with the participants of the energy market on the terms of the cancellation penalties, but these arrangements until finally decorated. The company is waiting for the approval of credit lines from Sberbank and Gazprombank 7.5 billion rubles needed for the completion of units.
On Friday “Vedomosti” also wrote about Prokhorov talks on the sale of real estate development group OPIN owner Credit Bank of Moscow Roman Avdeev . And the heads of major media companies after the searches were told that Prokhorov looking for a buyer and in the RBC.
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