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Uralchem owner holds talks on Uralkali stake buy - report
Tuesday 12 November 2013

12 November 2013 – Dmitry Mazepin, the owner of Russian fertilisers company Uralchem OJSC who has been reported to target a stake in Uralkali OAO (MCX:URKA), is currently discussing the potential deal in detail, an insider told Reuters on Tuesday.

Earlier today, Russian newspaper Vedomosti quoted its own sources as saying that Mazepin may partner with mogul Mikhail Prokhorov to make an offer for Suleiman Kerimov's 21.75% stake in the potash miner.

Later, three insiders told Reuters that Sberbank Rossii OAO (MCX:SBER) would be financing a deal, if one is sealed at all. According to Vedomosti, VTB Bank OAO (MCX:VTBR) was also prepared to fund it.

Reuters could not get a comment from any of the involved parties.

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, Vedomosti 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).
Date Published: 12/11/2013
Target: Uralkali OAO
Country: Russia
Sector: Metals/Mining
Type: Stakebuilding
Status: Speculation, Talks
Vendor: Suleiman Kerimov
Buyer: Dmitry Mazepin, Mikhail Prokhorov, Uralchem OJSC