Norilsk Nickel | 21 September 2011 г. | 17:28

MMC Norilsk Nickel’s Board of Directors approved of the company to be in charge of shares acquisition

MMC Norilsk Nickel’s Board of Directors approved of the company to be in charge of shares acquisition

The meeting of the Board of Directors of MMC Norilsk Nickel in absentia was held on September, 21. By the majority of votes the Board of Directors approved of the acquisition of the Company’s ordinary registered non-documentary shares and/or ADRs by Norilsk Nickel Investments Ltd (100%-owned by MMC Norilsk Nickel) by announcing a public offer. The date of applications submission shall be determined further on.

On September, 13 the Board of Directors approved of the offer terms. The offer envisages the acquisition of up to 14,705,882 MMC Norilsk Nickel’s ordinary registered non-documentary shares, representing 7.71% of the Company’s authorized capital. The price of shares and/or ADRs to be purchased from shareholders shall be USD 306 per ordinary registered non-documentary share and USD 30.6 per ADR. Up to USD 4.5 billion may be spent for the purposes of acquisition.

The offer serves the interests of further growth of the Company’s capitalization and complies with the best corporate governance practices.

ABOUT MMC NORILSK NICKEL:

MMC Norilsk Nickel, a company incorporated under the laws of the Russian Federation, is the largest diversified mining and metals company in Russia, the world's largest producer of nickel and palladium and one of the world's largest producers of platinum, rhodium, copper and cobalt. In addition to this, MMC Norilsk Nickel produces a large number of other by-products, including gold, silver, tellurium, selenium, iridium and ruthenium.

The key production units of the Company’s group in Russia are at the Polar and Kola Peninsulas. MMC Norilsk Nickel international assets include operations in Finland, Australia, Botswana and South Africa.
 

Source: metal supply & sales
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