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M&A: Norilsk Nickel in negotiations for sale of stake in Tati Nickel

OJSC MMC Norilsk Nickel currently in negotiations with Botswana's state-owned company BCL regarding the sale of its 85% stake in the local enterprise Tati Nickel, as stated by Mack William, Divisional Manager Corporate Strategy at BCL, for the Vedomosti.

Besides, Norilsk Nickel intends to sell its 6% stake in BCL to local government authorities.

Experts estimate the possible transaction value at "hundreds of millions of dollars."

Norilsk Nickel received 85% of the shares in the Botswanian enterprise purchasing LionOre Mining International Ltd for $6.7 billion in 2007. Tati Nickel includes the Phoenix open-pit nickel mine (containing 27 million tonnes of ore), an underground mine (on standby) and an ore processing plant capable of processing 5 million tonnes per year.

OJSC MMC Norilsk Nickel (tax number: 8401005730) is Russia's largest diversified mining and metallurgical company, the world's leading producer of nickel and palladium and one of major platinum, rhodium, copper and cobalt producer. Besides, the company produces a wide range of by-products including gold, silver, tellurium, selenium, iridium and ruthenium. The mining and processing assets of the MMC Norilsk Nickel group are located in the Norilsk industrial area, the Kola Peninsula as well as Finland, USA, Australia, Botswana, and RSA.

According to the DataCapital information retrieval system, IFRS net profit of MMC Norilsk Nickel for 2013 dropped 2.8 times to $765 million from $2.143 billion for 2012. Revenue decreased by 7.09% to $11.489 billion from $12.366 billion, GP by 16.27% to $4.993 billion from $5.963 billion, EBITDA by 14.9% to $4.198 billion from $4.932 billion, EBITDA margin to 37% from 40%.

According to the DataCapital information retrieval system, RAS net profit of MMC Norilsk Nickel for H1 2014 grew 2.48-fold to RUB 51.334 billion from RUB 20.729 billion the year before. Revenue increased by 13.51% to RUB 148.676 billion from RUB 130.981 billion, sales profit by 29.47% to RUB 79.18 billion from RUB 61.156 billion, pre-tax profit 2.07 times to RUB 64.654 billion from RUB 31.293 billion.

AK&M "M&A Market"

"AK&M", 18.08.2014 13:34


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