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PPF takes Uralkali shares for Nomos stake.


13 August 2012 - Dutch-based private equity investor and financial services group PPF Group NV has exchanged shares in Russian lender Nomos Bank OAO (MCX:NMOS) for some 2.15% in Russian potash fertilisers maker Uralkali (LON:URKA), according to Uralkali shareholder Otkritie Financial Corp.

Otkritie Financial Corp said on Monday it had bought 19.9% in Nomos last week from PPF, paying 3.44 Uralkali shares for each Numos Bank unit, giving PPF about 63.3m shares of the potash producer. The transaction was worth RUB14.1bn (USD444m/EUR360.3m), Otkritie said in a statement cited by Bloomberg.

PPF spokesman Milan Tomanek confirmed the stock swap to the news agency, but did not wish to comment on its value.

PPF announced last week plans to shed its 26.5% in Nomos Bank, as part of plans to invest in its key operations in Russia and to boost its presence in the rapidly-developing Asian markets.The decision to exit Nomos was taken following an offer received by PPF from an unnamed buyer interested in the stake, it has said.

Otkritie, of which VTB Bank (MCX:VTBR) owns a part, considers the acquired Nomos stake as strategic, it said.The remaining Nomos shares owned by PPF are being bought by Russian investors Alexander Mamut and Oleg Malis, Otkritie added.

According to sources cited by Reuters earlier, Otkritie Bank and Nomos are negotiating a merger that would create the second largest private bank in Russia after Alfa Bank.Otkritie Financial Corp controls Otkritie Bank.Country: RussiaSector: Banking/Financial Services, ChemicalsTarget: Uralkali OAO, Nomos Bank OAO Buyer: Oleg Malis, Alexander Mamut , Otkritie Financial Corp, PPF Group NVVendor: PPF Group NV, Otkritie Financial CorpDeal size in USD: 444mType: Divestment, StakebuildingStatus: ClosedComment: Deal size refers to share swap with Otkritie.

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Publication:M & A Navigator
Date:Aug 13, 2012
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