Rusal offers to buy blocking share in Norilsk
Norilsk Nickel is the world's largest nickel miner, but earlier this year its two main shareholders Prokhorov and Vladimir Potanin announced plans to divide their assets.
This week Potanin, who runs Interros and owns 25.5 per cent of Norilsk Nickel, made a formal offer to buy out his former partner's share. On Thursday, Prokhorov said he was ready to sell his stake for $US 15.7 billion. Onexim's 25 per cent plus one share represents a blocking stake in Norilsk Nickel.
According to a Rusal statement, if the price is not acceptable to Potanin, then Rusal are prepared to buy the stake at the quoted price. Meanwhile, Potanin's Interros has 45 days to decide on Onexim's offer.