Uralkali and Uralchem, Moscow, have consolidated their ownership of Uralkali. Rinsoco Trading, which has been a shareholder in the Russian potash company for some six years, sold its remaining 5.8 percent stake to the potash company’s subsidiary Uralkali Invest LLC, according to an April 1 Interfax report, citing a company statement.
With its latest share purchase, Uralkali Invest has increased its holding in the potash company to 18.5 percent, and holds 19 percent of the ordinary shares.
Uralkali Invest bought 12.7 percent of Uralkali’s shares from Rinsoco Trading in February (GM Feb. 19, p. 37). It paid $885.3 million for the stake, according to the report, citing Uralkali’s FY2020 IFRS financial statements.
Uralkali’s principal shareholder since late last year is Dmitry Mazepin’s Uralchem, with 81.47 percent of the equity. Uralchem upped its stake in the potash company from 46.4 percent with the purchase of a 35.1 percent stake from Rinsoco in early December, in a deal that was financed by Russia’s Sberbank (GM Dec. 4, 2020).
Mazepin is Uralkali’s Deputy Chairman and a close business associate of Rinsoco Trading’s owner Belarusian businessman Dmitry Lobyak.