Russia’s Madura sells off controlling stake in Uralkali

Sale sign.jpgRussia’s Madura Holding has sold a controlling stake in Uralkali, sources at the potash producer said on Tuesday. According to ICIS news, Madura sold 53.2% of Uralkali’s shares to Kaliha Finance Limited, Aerellia Investments Limited and Becounioco Holdings Limited.

In 2007, Uralkali became the first Russian chemical company to go public when it successfully listed its shares on the RTS and MICEX exchanges in Russia, and also on the London Stock Exchange.

The company now has a share of around 10% of the global market for potash fertiliser and ranks among the top 30 Russian companies by market capitalisation.

Uralkali’s major production facilities are located in the city of Berezniki, in the Perm territory, and consist of two mines and four enrichment plants. The company also owns the Baltic Bulk Terminal in St. Petersburg.

According to a press release:


(1) Madura has disposed of 53.2% of the issued share capital of the Company (the “Disposal”) to Kaliha Finance Limited (“Kaliha”), Aerellia Investments Limited (“Aerellia”) and Becounioco Holdings Limited (“Becounioco” and, together with Kaliha and Aerellia, the “Purchasers”) on 11 June 2010;

(2) Kaliha, Aerellia and Becounioco are beneficially owned by Mr. Suleyman Kerimov, Mr. Alexander Nesis and Mr. Filaret Galchev, respectively;

(3) in the course of the Disposal, the largest stake (25% of the Company’s share capital) was acquired by Kaliha.


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