The majority of Prokhorov's fortune was built through his close ties to the late Russian President Boris Yeltsin and the privatization of Russia's precious metals industry in the early 1990s. He sold his original metals investment, Norilsk Nickel, to Oleg Deripaska's Rusal in 2007. Now owns stakes in Polyus Gold and basketball's New Jersey Nets.
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.
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 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.
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.
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.
Billionaire Mikhail Prokhorov’s Onexim Group reached an agreement with Suleiman Kerimov and his partners to buy their 33 percent stake in potash producer OAO Uralkali, three people with knowledge of situation said.
Russian stocks headed for the longest streak of gains in three weeks after billionaire Mikhail Prokhorov agreed to buy a stake in OAO Uralkali. OAO Mechel extended its rebound after agreeing to restructure debt.
German stocks declined, snapping a three-day rally, as SAP AG and K+S AG dropped, outweighing a survey that signaled investor confidence in Europe’s largest economy may have increased to a four-year high.