The office of RUSAL company in Moscow, 2015
Photo: Safron Golikov/Kommersant
ONEXIM will sell 12% of its 17% stake in UC Rusal for $700 million, write “sheets”. The deal can be closed by the end of November
By data “Sheets”, which refer to three sources close to different sides of the qualifying transaction, ONEXIM group of Mikhail Prokhorov will receive about $700 million in approximately 12% of its 17% stake in UC Rusal.
According to a source close to one of its shareholders UC Rusal, the transaction can be closed by the end of November. Ransom package will provide VTB and Sberbank, but the size of the loan has not yet been determined, he said. Earlier, the interlocutors of the newspaper reported that Sberbank has already approved Sual Partners funding by $350 million, but, said a source close to Sberbank, not the fact that in the end the Bank will participate in the transaction.
As the “Vedomosti”, until recently, the package of ONEXIM was laid for the repo in VTB, but on 26 October, the Bank reported that packet size will be reduced from 17.02% to 13.16%.
Tuesday, October 26, the basic owner of group “Renova”, billionaire Viktor Vekselberg has said it wants to increase its share in UC Rusal and expressed hope for a speedy closing of the acquisition of Sual Partners stake from ONEXIM.
The representative Onekama then refused to comment on reports that negotiations with the “Renova” after Vekselberg said he expects to soon complete the transaction. The representative of “Renova” also did not comment on a completion date and other transaction details.
In early October, “Vedomosti”, citing two sources close to the banks collaborating with the companies and another, close to one of the parties to the transaction, wrote that Sual Partners, ONEXIM will also purchase approximately 12% of UC Rusal, the 5% will remain at ONEXIM. At the end of September Vekselberg in an interview with Bloomberg said that he expects within a month to close the deal.
In an interview to RBC TV channel Wednesday confirmed Vekselberg, “Renova” buys 12% ONEXIM: “This is the correct information”. “The deal is on the way out. I hope we soon have signed,” he said.
Major shareholders of UC Rusal are now En+ of Oleg Deripaska (48,13%), ONEXIM Mikhail Prokhorov (of 17.02%), Sual Partners of Viktor Vekselberg and Leonid Blavatnik (15.8 per cent) and Glencore (8,75%).