Subscription and demo access


 
About Interfax
Press Releases
Products & Services
Contact us
Customer Login
 


Headlines
 

10/18 19:30   CRASH OF L-39 TRAINER AIRCRAFT MIGHT HAVE BEEN CAUSED BY MECHANICAL FAILURE - RUSSIAN DEFENSE MINISTRY
 
10/18 19:30   Belarusian FM says Lukashenko determined to normalize relations with EU
 
10/18 19:28   L-39 TRAINER AIRCRAFT WITHOUT WEAPONS FALLS INTO WATER IN KRASNODAR TERRITORY; SEARCH FOR CREW UNDERWAY - RUSSIAN DEFENSE MINISTRY
 
10/18 19:26   Capitalization of Russian stock market decreases 1,01% on Thursday
 
10/18 19:24   Results of Interregional Trading for OFZ & OBR
 
10/18 19:19   Moldova determined to cooperate with NATO even despite neutrality status imposed on it - PM
 
10/18 19:06   Severstal may pay out 44.39 rubles per share for Q3
 
10/18 19:05   Putin warns Kyiv against copying Saakashvili's policy, says it cost Georgia part of its territory
 
10/18 19:02   Soccer players Mamaev, Kokorin charged with disorderly conduct - Interior Ministry's Moscow branch
 
10/18 19:00   Daily Headline News for October 18, 2018
 




 

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:

October 18, 2018
 
19:30
CRASH OF L-39 TRAINER AIRCRAFT MIGHT HAVE BEEN CAUSED BY MECHANICAL FAILURE - RUSSIAN DEFENSE MINISTRY
 
19:30
Belarusian FM says Lukashenko determined to normalize relations with EU
 
19:28
L-39 TRAINER AIRCRAFT WITHOUT WEAPONS FALLS INTO WATER IN KRASNODAR TERRITORY; SEARCH FOR CREW UNDERWAY - RUSSIAN DEFENSE MINISTRY
 
19:26
Capitalization of Russian stock market decreases 1,01% on Thursday
 
19:24
Results of Interregional Trading for OFZ & OBR
 
19:19
 
19:06
Severstal may pay out 44.39 rubles per share for Q3
 
19:05
Putin warns Kyiv against copying Saakashvili's policy, says it cost Georgia part of its territory
 
19:02
Soccer players Mamaev, Kokorin charged with disorderly conduct - Interior Ministry's Moscow branch
 
19:00
Daily Headline News for October 18, 2018
 
18:59
Reports about biological weapon project in Georgia alarming - Putin (Part 2)
 
18:59
Russian Eurobonds down on Thursday, reacting negatively to publication of Fed Reserve protocols
 
18:55
Russia files request at WTO to set up arbitration panel for dispute with U.S. over steel, aluminum
 
18:51
SEVERSTAL MAY PAY OUT 44.39 RUBLES PER SHARE FOR Q3 - COMPANY
 
 more headlines 



Interviews
 

.
New NASA Administrator Jim Bridenstine is on a first trip to Russia. After visiting Star City and speaking to students at Moscow State University, he went to Baikonur Cosmodrome, where he met with Roscosmos head Dmitry Rogozin to discuss the joint exploration of space and where the two plan to watch the launch of an expedition to the International Space Station. Bridenstine spoke to Interfax correspondents Dmitry Veklich and Nikolay Vlasov about the prospects of carrying out joint space flights, the future of the International Space Station, and Russia-U.S. cooperation in building manned infrastructure in lunar orbit.

more
.
.
NATO Secretary General Jens Stoltenberg has given an interview to Interfax ahead of the alliances summit in Brussels on July 11-12, in which he about Russias place on the summits agenda and how NATO is going to build relations with Russia.

more
.
.
U.S. National Security Advisor John Bolton visited Moscow on June 27 to lay the groundwork for the first full-fledged meeting between Russian President Vladimir Putin and U.S. President Donald Trump.

more

 
  
 ©   1991—2018   "Interfax News Agency" JSC. All rights reserved.
Contact information   |   Privacy Policy   |   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