| 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
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