Onexim Group has sold its 20% stake, which has a market value of US$2 billion, inpotash producer PJSCUralkali, Reuters reported July 8.
Onexim said the stake was bought by Dmitry Mazepin, theowner of fertilizer maker Uralchem, which already holds 20% of Uralkali.
Meanwhile, Uralchem told Reuters that the stake was insteadbought by Dmitry Lobyak, which has worked with Uralchem over its productsupplies.
Mazepin and Lobyak were schoolmates, a Belarusian businesssource told Reuters.
According to a source familiar to the deal, Onexim receivedcash for the stake sale and passed the debt taken on to acquire it to thebuyer, who purchased the interest at a significant premium to the currentmarket price.
Meanwhile, banking sources told Reuters that Russia'sbiggest lender Sberbank financed the deal.