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M&A: Onexim Group completes acquisition of 21.75% stake in Uralkali

Onexim Group completed the acquisition of 21.75% of Uralkali shares from Suleyman Kerimov Foundation, Uralkali informed.

The transaction value was not disclosed in the statement.
"The purchase of the stake in Uralkali is a long-term investment in a company that is unique from the standpoint of its position in its industry and its role in the world economy. We are certain that the potash industry has strong fundamentals and that Uralkali, as the world's leading producer and the key player in the industry, has considerable potential for growth in value. ONEXIM Group, in turn, has extensive experience in managing major industrial assets and creating shareholder value in public companies," Dmitry Razumov, CEO of ONEXIM Group, commented on the deal earlier.

Uralkali (tax number: 5911029807) is an integrated company established by merging the assets of OJSC Uralkali and OJSC Silvinit (the merger was finalized on June 16, 2011). For the purpose of the merger, Uralkali acquired 1,565,151 common shares (about 20%) of Silvinit and took over Silvinit replacing the target company's common and preferred shares with its own common stock. In 2012, Uralkali reduced potassium production by 16% to 9.12 million tonnes.

IFRS net profit of Uralkali for 2012 grew by 5% to $1.597 billion from $1.527 billion the year before. Revenue decreased by 6% year-on-year to $3.34 billion. Adjusted EBITDA decreased by 5% year-on-year to $2.375 billion, while adjusted EBITDA margin was 71%.

According to the information and retrieval system DataCapital, net profit (RAS) of Uralkali for 2012 increased by 15.2% to RUB 49.079 billion from RUB 42.571 billion in 2011. Revenue increased by 10.3% to RUB 110.116 billion from RUB 99.825 billion, sales profit by 7.2% to RUB 63.004 billion from RUB 58.748 billion, pre-tax profit by 17.4% to RUB 58.373 billion from RUB 49.711 billion.

"AK&M", 24.12.2013


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