MOSCOW Nov 9 The co-owners of Russian potash
miner Uralkali have issued exchangeable unlisted bonds
to VTB Capital, a subsidiary of the country's No.2 bank VTB
, and to Chengdong Investment Corporation, a subsidiary
of China's CIC.
The bonds are due 2014 and exchangeable into 14.5 percent of
Uralkali shares, Uralkali said in a statement on Friday.
The world's largest potash miner by output did not specify
the value of the transaction. Uralkali's market capitalisation,
according to Reuters data, has increased 11 percent for the last
six months to reach $22 billion.
Tycoon Suleiman Kerimov was the largest Uralkali shareholder
with 18.09 percent stake as of Aug.13. Filaret Galchev owned
10.85 percent, Alexander Nesis controlled 9.94 percent, while
two other businessmen owned around 8 percent each.
The issuers of the bonds were Wadge Holdings Limited and
Fenguard Limited, special purpose vehicles beneficially owned by
the key shareholders of Uralkali, it said on Friday.
It was not the first joint transaction of VTB and CIC. In
May they bought 7.5 percent in Polyus Gold, Russia's
largest gold producer, for $635 million.
(Reporting by Polina Devitt)