The offer expired today.
Moscow, 21 December 2007 Press Release
ONEXIM Group informs that the offer made by Mikhail Prokhorov to Vladimir Potanin on November 21, 2007 giving Mr Potanin the right to purchase Mr Prokhorov’s 25% plus one share stake in MMC Norilsk Nickel expired today.
As of 6pm London time, 21 December 2007, no acceptance notice with respect to
Mr Prokhorov’s offer has been received by Mr Prokhorov from Mr Potanin.
ONEXIM now intends to implementan agreement with UC RUSAL, under which UC RUSAL will acquire a 25% interest in Norilsk Nickel owned by ONEXIM, and ONEXIM will become an 11% shareholder of the enlarged UC RUSAL with representation on its Board of Directors, with the balance of consideration to be paid in cash.
ONEXIM Group, a private investment fund with over USD 25 billion in assets, has a diversified portfolio of investments in the metals and mining sector, energy, including fuel cell and nanotechnology, financial services, media and real estate