Sberbank in talks on financing of UralChem buying 10% in Uralkali

MOSCOW, Dec 11 (PRIME) -- Russia’s top bank Sberbank is in negotiations to finance acquisition of fertilizer producer UralChem of 10% in fertilizer producer Uralkali, Sberbank First Deputy CEO Maxim Poletayev told reporters on Monday.

“We are negotiating, but we are not a part of the deal, as there has been no deal formed yet,” he said.

In early November, the board of directors of Uralkali approved the sale of no more than 10% quasi-shares in the company that are on the books of subsidiary Uralkali-Technologies to UralChem at a market price. In late November, the Federal Antimonopoly Service has prolonged for two months consideration of UralChem’s bid to buy 9.99999% in Uralkali.

UralChem of Dmitry Mazepin and Mazepin’s business partner Dmitry Lobyak own 20% in Uralkali each.

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