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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Investment, Market

Potash miner Uralkali brings in Chinese wealth fund

Posted on 12 November 2012

The main owners of Russia’s Uralkali have sold bonds exchangeable into shares worth about $3-billion (U.S.) in a deal that could give a Chinese sovereign wealth fund a stake in the world’s largest potash miner by output. Uralkali said on Friday that the bonds had been sold to Chengdong Investment Corp., a subsidiary of China’s CIC, and to VTB Capital, a subsidiary of the country’s No. 2 bank VTB.
The bonds are due in 2014 and exchangeable into a 14.5-per-cent stake in Uralkali worth more than $3-billion at current prices. China’s CIC could exchange its bonds into a 12.5-per-cent stake and VTB to a stake of 2 per cent………………………………………..Full Article: Source


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