| 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
|