Onexim Group considers potential bid for Kerimov's stake in Uralkali- sources

September 25
8:33 AM 2013

The Onexim Group owned by billionaire Mikhail Prokhorov was reportedly considering a potential bid for a stake in potash producer OAO Uralkali. Three sources told Bloomberg that Onexim was weighing a possible offer for the stake of billionaire Suleiman Kerimov. The people with knowledge of the matter said no formal offer for the stake was made yet.

In February, Prokhorov sold the 38% stake he held in Polyus Gold International Ltd to Kerimov's associates. The sources also revealed that Kerimov's selling price for his Uralkali share would be based on the USD 20 billion market value of the entire firm. This would put the potential price tag at a 28% premium to its most recent share price.

Kerimov, together with two other businessmen, own 33% of Uralkali. They started to get offers for their stake after Uralkali Chief Executive Officer Vladislav Baumgertner was arrested by authorities in Belarus for abusing his position. The arrest occurred after Baumgertner pulled out its potash joint venture with Belarus.

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