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China acquires 12.5% stake in Uralkali

8:43 AM MDT | September 24, 2013 | Ian Young

Uralkali (Berezniki, Russia), one of the world's largest producers of potash, says it has been informed by Chengdong Investment Corp. (CIC) that CIC has acquired a 12.5% stake in Uralkali. CIC is a unit of sovereign wealth fund China Investment Corp. (Beijing). CIC acquired the stake by converting bonds into ordinary shares of Uralkali. CIC purchased the bonds in November 2012 from Russian billionaires Suleiman Kerimov, Filaret Galchev, and Anatoly Skurov. The three are each major shareholders in Uralkali. The acquired stake is worth about $2 billion at current...

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