Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact us
Customer Login
 


Headlines
 

01/19 05:05   Russia political and economic calendar: January 19
 
01/19 05:00   INTERFAX RUSSIA AND CIS BUSINESS AND FINANCIAL NEWS
 
01/18 22:27   By passing Donbas bill, Kyiv authorities show lack of interest in restoration of peace in the country - Ukrainian opposition
 
01/18 22:03   OSCE expecting success of Moscow-Kyiv talks on Russia's return to JCCC
 
01/18 22:02   Armenian FM holds talks with Azerbaijani counterpart, calls on Baku to observe truce agreements
 
01/18 21:54   LPR agreed on disengaging forces in Stanytsia Luhanska on Jan 21
 
01/18 21:45   Russia, U.S. to continue ISS cooperation at least until 2024 - Rogozin (Part 2)
 
01/18 21:44   New mechanism approved by UN SC needed to investigate incidents involving chemical weapons in Syria - Nebenzya
 
01/18 21:29   U.S. possible refusal from Russian space rocket engines, Soyuz seats not critical for Roscosmos' financial position - Rogozin
 
01/18 21:17   Moscow demands Washington hold accountable those involved in disseminating confidential information affecting Russian interests
 


 

Interfax.com  |  Interfax news  |  VTB could sell En+ stake back to Deripaska...


News headlines


October 23, 2017 13:57

VTB could sell En+ stake back to Deripaska companies in Dec 2018 (Part 2)

MOSCOW. Oct 23 (Interfax) - VTB (MOEX: VTBR) could sell its stake in En+ Group plc back to companies belonging to Russian businessman Oleg Deripaska, the main shareholder in En+ Group, in December 2018.

VTB acquired 4.35% of En+ in 2011, with the rest belonging to Oleg Deripaska and members of his family. In 2013 a forward agreement was signed between participants in the deal, according to a prospectus for the En+ IPO, seen by Interfax.

The document said if VTB decides to sell the stake to the majority shareholder, then it needs to notify Deripaska's company Eastern Carriers Trading Limited five working days before December 13, 2018. Eastern Carriers Trading could then initiate a buyback of En+ shares from VTB at any moment.

Deripaska's companies intend to use a portion of the funds raised from the En+ IPO to repay debt to VTB (MOEX: VTBR) and/or lower the cost of buying shares contained in the forward contract with the bank, the prospectus said. The price itself was not specified in the document.

In keeping with the forward agreement, Deripaska's B-Finance Limited and Basic Element Limited pledged 7.7% of En+ shares with VTB as a guarantee for the liabilities of Eastern Carriers Trading. Another 24.85% of En+ was pledged under other credit agreements with VTB (MOEX: VTBR), where B-Finance and Basic Element are guarantors. Thus, 32.55% of the company's shares were pledged with VTB altogether.

VTB Capital is one of the organizers of the IPO that En+ is planning on the London Stock exchange at the beginning of November. The price range for the IPO has been set at $14-$17 per GDR, En+ said on Monday. This values the whole company at $7 billion-$8.5 billion, before the receipt of funds from the placement of new shares. The deal could amount to 15.8%-18.8% of the company's increased charter capital, before the greenshoe option. A road show and book-build for the IPO gets under way on October 23. The process should be complete at the beginning of November, when pricing will take place.

ns pr nb

(Our editorial staff can be reached at eng.editors@interfax.ru)

/Interfax/
 Subscription
You can access a demo version of, receive more information about or subscribe to Interfax publications by filling in and returning the form below. We also have dozens of reports in the Russian language, please indicate if you are interested.
Title:


Phone:


E-mail:


First name:


Company:


Country:
Last name:


Division:


City:
Products:
Central Asia & Caucasus Business Weekly
Central Asia General Newswire
Global Gas Analytics
Global Natural Gas Daily
Interfax Via Bloomberg Terminal
Kazakhstan General Newswire
Kazakhstan Mining Weekly
Kazakhstan Oil & Gas Weekly
Russia & CIS Announcements
Russia & CIS Banking and Finance Weekly
Russia & CIS Business and Financial Daily
Russia & CIS Business and Financial Newswire
Russia & CIS Business and Investment Weekly
Russia & CIS Business Law Weekly
Russia & CIS Business news
Russia & CIS Defense Industry Weekly
Russia & CIS Diplomatic Panorama
Russia & CIS Energy Daily
Russia & CIS Energy Newswire
Russia & CIS Events Calendar
Russia & CIS Food and Agriculture Weekly
Russia & CIS General Newswire
Russia & CIS Headline News
Russia & CIS Insurance Weekly
Russia & CIS IT and Telecom Weekly
Russia & CIS Metals and Mining Weekly
Russia & CIS Military Daily
Russia & CIS Military Newswire
Russia & CIS Military Weekly
Russia & CIS Oil and Gas Weekly
Russia & CIS Presidential Bulletin
Russia & CIS Statistics Weekly
Russia Health & Pharmaceuticals
Russia Market Roundup
Russia Press Review
Ukraine Business Daily
Ukraine Business Weekly
Ukraine General Newswire
Please enter the digits from picture in the box below:

January 19, 2018
 
05:05
 
05:00
INTERFAX RUSSIA AND CIS BUSINESS AND FINANCIAL NEWS
 
January 18, 2018
 
22:27
By passing Donbas bill, Kyiv authorities show lack of interest in restoration of peace in the country - Ukrainian opposition
 
22:03
OSCE expecting success of Moscow-Kyiv talks on Russia's return to JCCC
 
22:02
Armenian FM holds talks with Azerbaijani counterpart, calls on Baku to observe truce agreements
 
21:54
LPR agreed on disengaging forces in Stanytsia Luhanska on Jan 21
 
21:45
Russia, U.S. to continue ISS cooperation at least until 2024 - Rogozin (Part 2)
 
21:44
New mechanism approved by UN SC needed to investigate incidents involving chemical weapons in Syria - Nebenzya
 
21:29
U.S. possible refusal from Russian space rocket engines, Soyuz seats not critical for Roscosmos' financial position - Rogozin
 
21:17
Moscow demands Washington hold accountable those involved in disseminating confidential information affecting Russian interests
 
21:08
Karabakh intermediaries put forth several creative proposals - Azerbaijani FM
 
21:01
Political subgroup discusses Ukrainian law on Donbas reintegration in Minsk - OSCE Special Envoy Sajdik
 
20:42
 
20:39
RUSSIAN FOREIGN MINISTRY URGES U.S. AUTHORITIES TO CURB SPREADING CONFIDENTIAL INFO CONCERNING RUSSIAN INTERESTS, HOLD RESPONSIBLE THOSE GUILTY, INCLUDING IN AMERICAN STATE ADMINISTRATION
 
 more headlines 



Interviews
 

.
Russian Foreign Minister Sergei Lavrov has given an interview to Interfax in which he sums up the foreign policy events of the outgoing year and tells of Russias diplomatic priorities in 2018.

more
.
.
OSCE Secretary General Thomas Greminger has given an interview to Interfax correspondent Margarita Velekhova ahead of a meeting of the OSCE Ministerial Council that will take place in December. Greminger, who assumed his office this July, has told about the OSCE activity amidst the exacerbation of relations between Russia and the West, particularly, the United States, as well as the organizations activity in Ukraine and the agenda of the upcoming Ministerial Council in Vienna.

more
.
.
Famous diplomat and political analyst, last U.S. Ambassador to the Soviet Union Jack Matlock has given an interview to Interfax in which he speaks about the first year of U.S. President Donald Trump in power and relations between Russia and the United States.

more

 
  
 ©   1991—2018   Interfax Information Service. All rights reserved.
contact information   |   Interfax offices   |   made by web.finmarket

News and other data on this site are provided for information purposes only, and are not intended for republication or redistribution. Republication or redistribution of Interfax content, including by framing or similar means, is expressly prohibited without the prior written consent of Interfax.

Browse other Interfax sites:  Interfax.ru   |   IFX.RU   |   Interfax Group   Rambler's Top100