Prokhorov will sell 7% of shares of “RUSAL” Vekselberg for $504 million

TASS, August 11. The owner of “ONEKSIM” Mikhail Prokhorov is selling about 7% of the shares of “RUSAL”. This is stated in the message on the Hong Kong stock exchange.

Dimosenco Holdings Co. Prokhorov agreed to sell 1 billion 63 million 511 thousand 40 shares for $503,885 million as a buyer is Zonoville Investments Limited, affiliated with Sual Partners of Viktor Vekselberg, the message.

After the closing of the transaction, the share of structures of Vekselberg in the “RUSAL” will grow from 15.8% to 22.8%. Share Prokhorov will be reduced to 6.7%.

In addition to the ONEXIM, Sual Partners and major shareholders “Rusala” are En+ of Oleg Deripaska (48,13%) and through Glencore Amokenga Holdings (8.75 per cent). Management of “RUSAL” owns about 0.25% of the shares. The rest of the shares is in free float.

This is the second major deal Prokhorov shares of “RUSAL” this year. In February, he sold 3.32% of the company’s shares on the stock exchange for $240 million Package was placed through an accelerated bookbuild.