Norilsk to sell 8 percent stake to Trafigura
Dec 20, 2010 | 12:05 PM
| Mark Burton
MMC Norilsk Nickel will offer American Depositary Receipts to independent oil and metals trader Trafigura totaling 8 percent of the Russian company's share capital.
The deal is potentially worth more than $3.3 billion, based on Norilsk's market capitalization of $41.3 billion as of Monday.
The sale will enable Moscow-based Norilsk to "realize a substantial gain on investments" in securities held by its wholly owned subsidiaries. The company will use the capital for general corporate purposes, it said Monday.....
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