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People & Business :: Earnings/Finance

Report: Major Uralkali shareholder to sell $3.7-billion stake

1:04 PM MDT | September 13, 2013 | Lindsay Frost

Russian investor Suleiman Kerimov is selling his stake in Russian potash producer Uralkali to investor Vladimir Kogan for $3.7 billion, according to reports. A representative for Kerimov’s investment company Nafta Moskva (Moscow) has declined comment, as has Uralkali. Earlier this week, Uralkali announced a major decline in revenues and earnings for the first six months of the year. Uralkali’s net profit in the first six months was down 53%, to $397 million, on revenues 29% lower, at $1.35 billion. Ebitda declined 40%, to $876 million, and Ebitda...

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