Saturday, July 9, 2016

Mikhail Prokhorov has sold 20% of “BRIC” Dmitry Lobyaku – BBC

ONEXIM Group of Mikhail Prokhorov sold its 20% of “BRIC”. As told to “Gazeta.ru” a source close to shareholders of the chemical company, the buyer became the Belarusian businessman Dmitry Lobyak. The transaction amount was not disclosed.

The Belarusian businessman Lobyak is the owner of the registered in Minsk “Juras Oil”, the official dealer of the trading house “Uralkhim” in Belarus. Lobyak also owns stakes in Verkhnekamskoe electromechanical plant in Solikamsk. There are mines, which develops “Uralkali».

The representative of “BRIC” said the company is not a party to the transaction, and therefore it can not comment. In “Uralhima” (a company controlled by businessman Dmitry Mazepin, owns 19.99% of “BRIC”) “Gazeta.ru” said that the company appreciates the arrival of a new shareholder.

“We have long and tightly cooperate with Lobyakom and his companies on a number of projects related to the supply of our products”, – said the representative of the “Uralhima»

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To date, the market capitalization of “BRIC” is 534.35 billion rubles, or $ 8.1 billion, the Central Bank rate.. Thus, 20% of the company worth about $ 1.62 billion

«Prokhorov wanted to sell a package with a premium to the market, but usually for a package (which is neither control nor even blocking -..” Newspaper. Ru ») require, on the contrary, a discount,” – says an analyst at Raiffeisenbank Constantine Yuminov

Now, according to the expert, Mazepin and his Belarusian partner effectively control “Uralkali” <.. / span>

Who is “Uralkali” host

«Uralkhim” and ONEXIM – major shareholders “Uralkali”. In the quasi-shares account for 38.44% of its share capital, 12.61% are in the repo at “VTB Capital”, and about 8% of the shares in free float.

However, for the “Uralkali” is basically nothing does not change: operational control, and before that was the “Uralhima”, since it is the representatives’ Uralhima “exercise leadership potash giant

« Prokhorov was purely a financial investor, – explains. Yuminov. – It is good that the redemption of his shares are not hung up on itself “Uralkali”, but such a scenario is considered. This would greatly increase the company’s debt burden »

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ONEXIM has closed a deal to buy 21.75% of “BRIC” at the end of 2013. The shares were acquired from a businessman Suleiman Kerimov, the transaction amount was not disclosed, but before the transaction Kerimov said that evaluates the entire company at $ 20 billion. Thus, the price of its package could amount to about $ 4.35 billion, which at that time meant the Prize to the market more than 23%. By the way, at the same time 19.99% of “BRIC” bought “Uralkhim” who paid $ 3.8 billion. Based on this price, Prokhorov’s group could pay for the purchased package of about $ 4 billion. But in general, ONEXIM gained control of 27% ” Uralkali “, more precisely, about 5.34% acquired structures affiliated with the group Prokhorov. But when Prokhorov decided to sell the asset it owned already 20% Potash Company (part of the package Onexim sold under the buy back «Uralkali»).



Belarusian trace

in the transaction there is a political aspect as Kerimov sold his shares because of Belarus claims.

at the end of July 2013,” Uralkali “announced the severance of cooperation with the” Belaruskali “in (BPC) within the Belarusian potash company. This structure has a single export channel partners. As stated “Uralkali” was violated the basic principle of cooperation, according to which the export sales of the two producers should be carried out exclusively through the BPC. The Belarusian side, in turn, said that “Uralkali” previously implemented a significant part of their products to bypass the BPC. In late August, the Belarusian Prime Minister Mikhail Myasnikovich invited to negotiate Vladislav Baumgertner, occupied at that time as head of the Russian potash companies.

After the talks Baumgertner was arrested in Minsk on 26 August. The Investigative Committee of Belarus has accused the top manager in the abuse of power and official authority in the framework of activities in the BPC. According to Belarusian laws Baumgertner could face three to ten years imprisonment. Later, the Belarusian SC also declared internationally wanted on similar charges the main shareholder of “BRIC” Suleiman Kerimov.

President of Belarus Alexander Lukashenko made it clear that he is not satisfied exactly Karimov as a controlling shareholder .

The Belarusian sources “Gazety.Ru” then said that Lukashenko actually considers Suleiman Kerimov as his personal enemy, as it Kerimov, becoming the largest shareholder of “BRIC”, trying to absorb the “Belaruskali”. And the company is a major supplier of currency in the Belarusian budget

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“The whole business of Belarus in one way or another depend on Lukashenka,” – says first Vice-President of the Center for political technologies, Alexei Makarkin. So Prokhorov, who is now selling a number of assets in the most soon as possible, it would be difficult to find a buyer in Russia.

«We Lukashenko have an interest in” Uralkali “, and Russian businessmen are unlikely to be willing to assume the risks associated with it. When, for example, the head of the company in Belarus can only be arrested, “- says political scientist

Mikhail Prokhorov, whose fortune is estimated at $ 7.7 billion (14 th line of the richest Russian businessmen version. Forbes), now really is selling its assets, control the majority of which involved just ONEXIM group. It is composed of or are under its control, in addition to the sold shares in “Uralkali”, “Rusal” (17%), “Intergeo”, “Quadra”, “consent”, “Snob”, RBC, the International Finance Club, “Renaissance Credit “,” Renaissance Capital “, developer OPIN and others.

the total sale

Messages that one or another asset, which acts Prokhorov beneficiary may be soon sold constantly appeared in recent years. On the possible negotiations for the sale of “Quadra”, for example, wrote in 2011 and 2014. But in 2016 the search for potential buyers intensified stronger: this coincided with the period after April 14, when the headquarters of Onexim, as well as in Quadra offices “,” Renaissance Capital “,” Renaissance Credit “and the insurance company” Consent “held searches

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«Prokhorov everything is for sale,” – confirmed by one of the interlocutors “Gazety.Ru” familiar with the proposals Prokhorov. Potential buyers of “Quadra” were the structures close to the richest Russian billionaire Leonid Michelson, a sort of Central Asian company and a Russian investor. As told to “Gazeta.ru” a source close to the “Quadra” pre-sale valuation of the company was carried out in April. In April – May, there were rumors that Prokhorov may sell the information agency RBC

It took some time, and there were unconfirmed reports in early June that ONEXIM Prokhorov is negotiating the sale of 20 per cent. share in “Uralkali».

What is left to sell?

The most likely next deal Prokhorov may be the sale of shares in “Rusal”, one of the world’s largest aluminum producers. As he wrote Bloomberg, over the past three months ONEXIM negotiated the sale of its 17 per cent stake (worth more than $ 800 million on the Hong Kong Stock Exchange), the two other co-owners of “Rusal» – Sual Group, owned by billionaire Viktor Vekselberg, and international trader Glencore. A potential buyer may act and another co-owner of “Rusal” – En + group of Russian billionaire Oleg Deripaska

Another probable asset that can find a buyer, is OPIN development group, which holds 83.8 Onexim. % of shares. A potential buyer of some of the media called the owner of the Credit Bank of Moscow Roman Avdeev.

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