VSMPO in $970M management buyout

Nov 29, 2012 | 10:08 AM | Claire Hack

Tags  VSMPO, Russian Technologies, titanium, management buyout, Claire Hack

LONDON — VSMPO-Avisma Corp.’s management will buy a 45.42-percent stake in their company from Russian Technologies Corp., according to VSMPO-Avisma.

Russian Technologies will decrease its holding in the capital of VSMPO to blocking shares, and management participation will increase to 50 percent plus one share. The deal is worth between $965 million and $970 million.

Management’s previous holding of 4.6 percent will now be transferred, along with the 45.42-percent stake, into a joint venture created for the deal. Under the terms of the agreement, 75 percent of the stake plus one share will be owned by VSMPO-Avisma’s management and 25 percent minus one share will be owned by Gazprombank JSC. The managers will pay $187 per VSMPO-Avisma share.....

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