The future of OAO Uralkali’s marketing partnership with Belarus will depend on the Russian potash producer’s management, according to the head of OAO Uralchem, which is buying a 20 percent stake in the company.
OAO Uralchem investors led by billionaire owner Dmitry Mazepin agreed to buy 20 percent of OAO Uralkali, giving him joint control of the world’s largest potash producer with Mikhail Prokhorov’s Onexim Group.
Billionaire Mikhail Prokhorov’s Onexim Group and billionaire Dmitry Mazepin are seeking a joint controlling stake in OAO Uralkali, the world’s largest potash producer, according to three people with knowledge of the plan.
Belarus agreed to extradite OAO Uralkali chief Vladislav Baumgertner to Russia, days after a plan to change ownership of the potash producer that may end a dispute over joint global sales of the key crop nutrient.
Vladislav Baumgertner, the chief executive officer of OAO Uralkali, is in a Moscow jail after the head of the world’s largest potash producer was extradited from Belarus where he spent almost three months under arrest.
Billionaire Mikhail Prokhorov’s planned purchase of a stake in OAO Uralkali opens the door to reviving a global marketing venture, while failing to restore potash prices undermined by mistrust and high stockpiles.
Billionaire Mikhail Prokhorov’s Onexim Group agreed to buy Suleiman Kerimov’s stake in OAO Uralkali, bolstering prospects that a standoff over a global marketing venture for key crop nutrient potash will be resolved.
Suleiman Kerimov amassed a net worth of $18 billion betting mainly on shares of companies controlled by Vladimir Putin only to gamble away the bulk of that on Morgan Stanley and other banks during the global financial crisis.