• Prokhorov has sold seven per cent of RUSAL at a price below the market

  • Structure of Mikhail Prokhorov sold to shareholders of Sual Partners, 7 percent of the shares of the aluminum holding company "RUSAL". This was reported by "Vedomosti" with reference to sources.

    According to them, the package was sold for an amount "in excess of $ 500 million". The 9 August, the Hong Kong stock exchange seven percent stake in RUSAL was worth 714 million dollars. The average cost of 7 percent of the securities of the company over the past six months amounted to 482 million dollars.

    In "RUSAL" confirmed that the structure Zonoville Investments Limited (the beneficiary is, including the main owner of "Renova" Viktor Vekselberg), bought from the structures of Prokhorov's 7 percent stake in aluminum company for 504 million dollars.

    The newspaper reminds that the group "ONEXIM" Mikhail Prokhorov began to seek a buyer for its package "Rusala" in the summer of last year.

    According to sources, then talking about selling a 12 percent stake for about $ 700 million. However, since the beginning of the negotiations in the summer of 2016, the company has risen by almost half because of rising aluminum prices. If summer stock was trading near historic lows, now it is 10.3 billion dollars. In addition, there were problems with the approval of the transaction by the regulator of the Hong Kong stock exchange, which traded RUSAL. Then The "ONEXIM" sold in the market of 3.32 percent stake in the holding. In the result of the sale of the package rate will fall to 6.7 percent.

    "RUSAL" — the largest producer of aluminium and alumina. The share of the company in 2015, accounted for about 7 percent of global production of aluminium and about the same alumina. The company's plants located in 13 countries, employs about 61 thousand


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