Interros Group is acquiring a controlling stake in NPO Petrovax Pharm, a Russian pharmaceutical company. The parties signed the documents in Moscow today. Arkady Nekrasov and Natalia Puchkova, NPO Petrovax Pharm founders, will retain a stake in the company, and will continue to participate in business management. Financial terms of the deal are not disclosed.
Interros representatives at the MMC Norilsk Nickel board of directors supported the decision to hold an EGM by absentee voting on Dec 20th. Shareholders will vote on the payment of interim dividend for the first 9 months of fiscal year 2013 in the amount of $ 1.1 billion. The shareholders reimbursement has been made possible due to the effective management of the company, which has provided MMC’s profits and market capitalization growth amid falling prices and volatility in world non-ferrous metals market.
The Board of Directors also made a decision to convene the Annual General Meeting of Shareholders of the Company (AGM) on June 6, 2013 and recommended that the shareholders approve dividends for 2012 in the amount of RUR 400.83 per ordinary share.
Interros completed the sale of 5,420,464 shares of OJSC MMC Norilsk Nickel to Crispian Investments Limited (Crispian) affiliated with Roman Abramovich (and replacing Millhouse as a party to the transaction) at a price of $160 per share. This transaction is part of the agreement between Interros, Millhouse and RUSAL to settle the situation at Norilsk Nickel.
Under the agreement, Crispian's total stake in Norilsk Nickel will amount to 5.87%. In addition, the company will have the right to vote with 15% of shares owned by Interros and Rusal held in an escrow account at the agent bank.