Aluminum giant UC Rusal, which has a major stake in Jamaica's mining sector, and billionaire Vladimir Potanin, have agreed to sell their shares in Norilsk Nickel to tycoon Roman Abramovich for just under US$1.5 billion.
The latest announcement marks a revision for a deal agreed last week on the stake in the world's largest nickel and palladium producer.
Mr. Potanin and Norilsk chief executive Oleg Deripaska had earlier agreed Mr. Abramovich would buy a 7.3 per cent stake in the form of quasi treasury shares.
Rusal and Mr. Potanin's Interros Holding will now sell a total of 9.2 million shares in Norilsk to Mr.Abramovich at US$160 per share. Rusal made the announcement in a statement to the Hong Kong stock exchange.
All feeds
