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Anti-monopoly watchdog satisfies ONEXIM’s bid to buy 27.76% stake in Uralkali

January 28, 2014, 10:52 UTC+3 MOSCOW
The Federal Anti-Monopoly Service also noted that Uralkali had previously received a demand currently in effect from the anti-monopoly watchdog to meet preliminary terms seeking to ensure competition
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© ITAR-TASS/Uralkali Press Service

MOSCOW, January 28. /ITAR-TASS/. Russia’s Federal Anti-Monopoly Service (FAS) has satisfied billionaire Mikhail Prokhorov’s ONEXIM’s bid to buy a 27.76% stake in Russian potash giant Uralkali on Tuesday.

It was also reported that after the deal ONEXIM Holdings Ltd, Dimosenco Holdings Ltd, Rinsoco Holdings, Renaissance Securities and Twitter Investments Ltd will possess 33.2 percent of Uralkali’s voting shares.

Meanwhile, the Russian anti-monopoly watchdog reported that a request had been made to a registrar over Uralkali’s stock purchase due to media reports that the deal is already completed.

“If the information is confirmed that ONEXIM and Uralkali had struck the deal without preliminary consent with the Federal Anti-Monopoly Service an administrative case will be opened,” head of the department for control over chemical industry and agro-industrial complex of the country’s anti-monopoly watchdog Anna Mirochinenko noted.

The Federal Anti-Monopoly Service also noted that Uralkali had previously received a demand currently in effect from the anti-monopoly watchdog to meet preliminary terms seeking to ensure competition.

It was earlier reported that Russia’s anti-monopoly watchdog had extended for two months the hearings of a bid of investment group ONEXIM to buy a 27.76 percent stake in Uralkali.

In December 2013 ONEXIM confirmed that the deal was closed for the purchase of a 27.76% stake in Uralkali from charity foundation of Russian senator Suleiman Kerimov. A source close to the deal told Itar-Tass before, that structures friendly to the business tycoon buy another five percent in Uralkali.

So, ONEXIM and structures close to billionaire Mikhail Prokhorov will receive blocking share holding in Uralkali.

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