Chengdong Investment Corp. obtains 12.5% of Uralkali stock
MOSCOW. Sept 24 (Interfax) - China's Chengdong Investment Corporation (CIC) has secured 12.5% of the stock in Russian fertilizer-maker OJSC Uralkali in a conversion of bonds issued in 2012 by the Russian company's stockholders, Uralkali said.
The bonds converted into Uralkali stock were issued by the company Wadge Holdings, Ltd., the beneficiary owners of which are Suleyman Kerimov's Suleyman Kerimov Foundation, Anatoly Skurov, and Filaret Galchev.
CIC notified Uralkali of its acquisition September 24. Uralkali was not part of any agreements involved in this deal, the fertilizer company said.
Chengdong Investment Corporation is a subsidiary of China Investment Corporation, which was set up to invest in Russian assets. In addition to its Uralkali stake, it has a 5% minus one share stock interest in Polyus Gold .
As of August 20, 21.75% of Uralkali shares belonged to the Foundation, 4.8% to Skurov, and 7% to Galchev. Another 53.95% of the company's stock is in free float.