Uralkali closes purchase of 6.4% of company shares from Mutsoyev
MOSCOW. July 10 (Interfax) - Enterpro Services Ltd, a wholly owned subsidiary of Uralkali , has closed the purchase of 188,658,827 Uralkali shares (6.4% of share capital) from Forman Commercial Limited, whose beneficiary is Zelimkhan Mutsoyev, for about 41 billion rubles.
The sale was transacted on July 8, Uralkali said in materials.
The board of directors approved the purchase on June 5. It paid 217.3 rubles per share.
The company has said it plans to retire the shares, which would raise the free float to above 50%.
The shares purchase from Mutsoyev companies and the shares - including GDRs - that Enterpro purchased under the buyback program were transferred to CJSC Uralkali-Tekhnologia, which has received a total of 11.3% of shares in the parent company, Uralkali said in materials.
Mutsoyev is a State Duma deputy. Earlier another Uralkali shareholder who is now a lawmaker, Senator Suleyman Kerimov, who owns a 17.2% stake in Uralkali, transferred beneficiary rights to his business assets to a charitable trust, the Suleyman Kerimov Foundation.
The Uralkali board of directors approved the share and GDR buyback program on November 14, 2012. The program, which is effective from November 13, 2012 through November 13, 2013, will total no more than $1.636 billion. So far the company has made purchases totaling $1.069 billion.