Holder blocks Norilsk asset transfer: billionaire investor abstains from vote on a spinoff plan

Article Abstract:

A $7 bil energy assets transfer for Russian firm Norilsk Nickel failed to pass when the company's largest shareholder abstained from voting on the proposal. Billionaire Mikhail Prokhorov has placed his 25%-plus-one stake in the firm up for sale. The asset transfer was aimed at forming a new company.

Investor relations

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Norilsk Chief to sell stake

Article Abstract:

Chief Executive Officer Mikhail Prokhorov is resigning from Norilsk Nickel of Russia and selling his shares in the nickel mining industrial to partner Vladimir Potanin. Speculators anticipate a move of the company into state ownership. Norilsk Nickel is the largest miner of nickel worldwide.

Forecasts, trends, outlooks, Executive changes & profiles, Officials and employees, Finance, Appointments, resignations and dismissals, Company financing, Company business forecast/projection, Company forecasts

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Rusal moves in on 25% stake in Norilsk

Article Abstract:

Russian aluminum firm RUSAL is expected to buy a 25% stake in Norilsk Nickel, which will increase RUSAL's presence in the mining industry. Speculation by analysts values a merger between the two firms would produce market value of approximately $100 bil.

Strategy & planning, Primary aluminum, Planning, Aluminum industry, Company business planning, RUSAL

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