Mikhail Prokhorov’s Onexim Group has forwarded Vladimir Potanin’s Interros Holding and official offer to purchase Onexim’s block of shares in Nornickel mining and metallurgical plant.
Prokhorov offers Potanin to buy 21 percent plus one paper of Nornickel to Potanin at 293.6 dollars per paper and a 12.6 percent reward.
Earlier, Interros sent an official letter to Onexim, offering to purchase Prokhorov’s direct share in the business ‘at a fair market price’ although Onexim claims they have not received such an offer. Either way, today’s exchange of amiabilities is another milestone on the long journey to Potanin and Prokhorov’s ‘divorce’.
The two businessmen have been working on dividing their joint business since last January. At first they agreed that Mr Prokhorov would consolidate Polus Zoloto gold mining company, and a new energy company created on the basis of Nornickel, while Potanin would gain control over Nornickel itself. In accordance with the agreement, Prokhorov resigned as the plant’s CEO and Board member. But a dispute between shareholders occurred later, during the process of asset division. Onexim (a fund to which Prokhorov handed his block of shares) demanded election of Nornickel’s new Board of Directors, and Potanin’s company blocked the move.
28.2 percent of Nornickel is controlled by Prokhorov, and 25.3 percent – by Potanin (directly and indirectly), according to a memorandum published in mid-November, while analysts say both businessmen have already increased their shares. Prokhorov’s share market cost for today is about 15.7 bln dollars, and Potanin’s – 14.1 bln.
Photo: RIA Novosti
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