RTTN:Norilsk Nickel Offers $8.75 Bln For 15 Percent Stake Held By UC Rusal
(RTTNews) - Russia-based OJSC MMC Norilsk Nickel (NILSY.PK) Friday said its proposal to repurchase the 15 percent stake held by UC Rusal Investment Management for $8.75 billion would be discussed in a Board meeting to be held on August 24, 2011. Upon approval, the proposal will be valid until September 5, 2011.
The offer of $306 per share is a 20 percent premium on the volume weighted average market price for the last 6 months. The 15 percent stake amounts to 28.6 million shares.
