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Russia tycoons close to asset split deal - paper

Wed Sep 24, 2008 4:21am EDT

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MOSCOW, Sept 24 (Reuters) - Russian tycoons Vladimir Potanin and Mikhail Prokhorov are close to a final asset split deal involving stakes in metals giant Norilsk Nickel GMKN.NN and gold miner Polyus (PLZL.MM), Kommersant business daily reported on Wednesday.

Russia

The newspaper quoted unnamed sources as saying that under the deal Prokhorov's investment vehicle ONEXIM Group will receive some 35 percent of shares in Polyus (PLZLq.L) controlled by Potanin in addition to the around 30 percent it already has.

In exchange Potanin will receive a 2 percent stake in Norilsk (NKELyq.L), a 25.8 percent stakes in Rusia Petroleum, holder of the Siberian Kovykta gas field licence, and a 95 stake in the agribusiness firm Agros.

The fate of another jointly owned asset, property developer Open Investments OIVS.RTS remains to be solved, Kommersant said.

Potanin's Interros investment vehicle and ONEXIM declined to comment.

Polyus' CEO Yevgeni Ivanov said he has no information about any recent change to Polyus' shareholding structure.

"As far as we know, so far the shareholding structure has not changed. Prokhorov and Potanin remain the main beneficiaries. But we, the company, do not see their precise stakes." (Reporting by Aleksandras Budrys; Additional reporting by Denis Dyomkin in Magadan; Editing by David Holmes)



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