OJSC Rosneftegaz is looking to opportunities to acquire the stake of businessman Suleyman Kerimov in OJSC Uralkali, the Vedomosti reported referring to the banking community and a source close to Uralkali.
Another source mentioned that Rosneft was targeting the stake in the company together with Vladimir Kogan, ex-owner of St. Petersburg-based Promstroybank.
According to the paper's sources, Kerimov's fund Suleyman Kerimov Foundation is estimating the whole company at $20 billion and is ready to sell its stake in Uralkali at a price in proportion to that amount.
Rosneftegaz (tax number: 7705630445) is a wholly state-owned company. It owns more than 75% of Rosneft Oil Company shares and 10.74% of OJSC Gazprom as well as stakes in 78 gas distributors.
According to the information and retrieval system DataCapital, net profit of Rosneftegaz for 2011 increased by 31.4% to RUB 33.664 billion from RUB 25.366 billion, revenue by 17.9% to RUB 32.369 billion from RUB 27.455 billion.
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.