Sector News

Russia’s Uralkali, Uralchem may merge – Vedomosti

June 23, 2015
Chemical Value Chain
(Reuters) – Russia’s Uralkali, the world’s biggest potash producer, may delist its shares and merge with Russian shareholder Uralchem, Vedomosti daily newspaper reported on Monday, quoting five sources.
 
Vedomosti said that Dmitry Mazepin, Uralchem’s main shareholder, might become the largest stakeholder in the company if the merger happened.
 
Uralkali and Uralchem’s representatives were not immediately available for comment.
 
According to Urakali’s website, Uralchem owns a 19.99 percent stake in Uralkali, with Mikhail Prokhorov’s Onexim Group owning another 20 percent and China’s Chengdong Investment Corporation holding 12.5 percent.
 
Uralkali’s free-float stands at 23 percent, with the rest named as treasury shares. According to the newspaper, Uralkali may delist its shares – traded both in Moscow and London – by the end of the year. (Reporting by Polina Devitt and Katya Golubkova, editing by Elizabeth Piper)

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