Metalloinvest and Kazakhmys reported to be in merger talks
Published: 14 July, 2008, 13:16
Kazakhmys is in merger discussions with Metalloinvest, the Russian metals conglomerate controlled by billionaire Alisher Usmanov. That's according to the Financial Times.
The FTSE 100 Kazakh mining company shares rose 8.6% following the announcement. The deal is being structured as a reverse takeover and should see Mr Usmanov emerge with a controlling stake.
The merged company would be re-listed on the London Stock Exchange and is expected to have a market value of around $50bn. Currently Metalloinvest has three main businesses: iron ore, steel and scrap metal and is valued at up to $30bn.
14.07.2008, 10:32
Revealed: the man who pays a third of Dagestan’s taxRussian billionaire Suleiman Kerimov paid $100m in taxes last year, according to Interfax news agency. |
15.07.2008, 06:55
Russian military aviation potential shown off at FarnboroughOver 60 Russian companies are participating in the Farnborough International Airshow in the UK this year with Russia looking to show off its military export potential, but plane makers aren't flying their products. |
