Sat, Jul 26, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

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

CIC converts Uralkali bonds into shares

Posted on 25 September 2013

Russian potash producer Uralkali said Tuesday that China’s sovereign wealth fund has acquired a 12.5% stake in the company by exercising an option on convertible bonds it bought late last year. The bonds had been issued by a special purpose vehicle called Wadge Holdings Ltd., which was owned by Uralkali’s primary shareholder Suleiman Kerimov and his partners Filaret Galtchev and Anatoly Skurov.
The 12.5% stake is now held by the Chengdong Investment Corp., a subsidiary of the China Investment Corp. The bonds had been due to mature in 2014. CIC’s stake is worth about 64.5 billion rubles ($2.03 billion) based on the current share price of RUB174.75 on the Moscow Exchange………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 14460 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

July 2014
M T W T F S S
« Jun    
 123456
78910111213
14151617181920
21222324252627
28293031