London court starts hearing of Norilsk dispute of RUSAL, Interros - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

London court starts hearing of Norilsk dispute of RUSAL, Interros

LONDON, May 14 (PRIME) -- The High Court of London has started four-day hearings of a dispute between Russian aluminum giant UC RUSAL of businessman Oleg Deripaska and Interros of tycoon Vladimir Potanin over a sale of shares in metals giant Norilsk Nickel, according to the information obtained by PRIME at the court on Monday.

Both businessmen arrived to the court to testify.

A long-standing shareholder conflict, which was resolved in 2012 with the intermediation of Roman Abramovich by signing an agreement with a five-year share lockup period, resumed in mid-February. The lockup period expired in December, when Interros decided to buy AbramovichТs 4% in Norilsk Nickel. RUSAL is trying to suspend the deal in the High Court of London.

In March, RUSAL and Interros preliminarily agreed at court that each of them buys about 2% in the nickel company from Crispian Investments of AbramovichТs Millhouse, whose stake amounted to 6.37%. Interros has already closed its deal to acquire a 2.1% stake.

President of DeripaskaТs power company En+ Group Maxim Sokov, a witness, said that after the lockup period Crispian should have sold its Norilsk Nickel shares on the open market or to a third-party strategic investor, but not to a current shareholder.

End

14.05.2018 14:21
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 78.0753 +0.3224 22 sep
USD 66.2497 -0.2228 22 sep
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1149.53 +0.78 18:50 21 sep
micex 2426.80 +1.08 18:50 21 sep
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 158.64 +2.78 18:49 21 sep
lkoh 4737.50 +0.78 18:49 21 sep
rosn 440.40 +0.39 18:47 21 sep
sber 193.44 +1.19 18:49 21 sep
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 78.0275 -0.1025 14:59 21 sep
USDTD 66.5250 -0.2275 17:44 21 sep