Two Russian tycoons are on the verge of completing a final asset split involving major metals firm Norilsk Nickel and gold miner Polyus, reports suggested yesterday (24th September).

An unnamed source in Russian newspaper Kommersant indicated that Mikhail Prokhorov's ONEXIM Group will acquire an additional 35 per cent of shares in Polyus, which is controlled by Vladimir Potanin.

The move would add to the 30 per cent stake already established by the investment vehicle, while Mr Potanin would also assume a two per cent stake in Norilsk, a 25.8 per cent stake in Rusia Petroleum and a 95 per cent stake in agribusiness firm Agros as part of the deal.

However, Polyus CEO Yevgeni Ivanov claimed that he was unaware of any such developments, commenting: "As far as we know, so far the shareholding structure has not changed. Prokhorov and Potanin remain the main beneficiaries. But we, the company, do not see their precise stakes."

The newspaper also suggested that the fate of property developer Open Investments - another jointly-owned asset - has yet to be decided.

Both ONEXIM and Mr Potanin's investment vehicle Interros declined to comment on the speculation.



Source:

Russia tycoons close to asset split deal - paper (24/09/08)
http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSLO2309220080924