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Uralchem owner plans partnership to bid for Uralkali stake - report
Tuesday 12 November 2013

12 November 2013 – Dmitry Mazepin, owner of Russian fertilisers company Uralchem OJSC, may partner with mogul Mikhail Prokhorov to make an offer for Suleiman Kerimov's 21.75% stake in potash miner Uralkali OAO (MCX:URKA), local newspaper Vedomosti reported today.

The paper quoted unnamed sources as saying that Russian lenders Sberbank Rossii OAO (MCX:SBER) and VTB Bank OAO (MCX:VTBR) are prepared to fund a potential deal.

Kerimov has been rumoured to seek a sale of his Uralkali stake after the company withdrew from a potash export joint venture with Belarus' state-run Belaruskali JSC in July which, in turn, led to the arrest of CEO Vladislav Baumgertner in late August.

Last month, the same paper reported that Prokhorov, a partnership between Vladimir Kogan and an Arabic state fund as well as the pair of Vladimir Evtushenkov and Mikhail Gutseriev were interested in acquiring Kerimov's interest.

Reuters sources have said that Kerimov values Uralkali at about USD20bn (EUR15bn).
Details
Date Published: 12/11/2013
Target: Uralkali OAO
Country: Russia
Sector: Metals/Mining
Type: Stakebuilding
Financing: Debt
Status: Bidding, Speculation
Vendor: Suleiman Kerimov
Buyer: Dmitry Mazepin, Mikhail Prokhorov

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