OAO GMK Norilsk Nickel’s directors recommended shareholders elect a new board at an extraordinary meeting on March 11, backing a proposal by United Co. Rusal.
The directors approved a list of 27 candidates for 13 seats, the company said in a statement today. They include 12 nominees from billionaire Vladimir Potanin’s Interros Holding Co., eight from Moscow-based Rusal and four from Norilsk management.
The list also includes two managers from Trafigura Beheer BV, which agreed to buy an 8 percent stake in Norilsk in December, and one representative of billionaire Alisher Usmanov’s Metalloinvest, which holds 4 percent.
Norilsk, the world’s biggest nickel producer, on Feb. 11 increased an offer to buy back shares held by Rusal as it seeks to end a battle between the aluminum company’s billionaire founder Oleg Deripaska and Potanin for control of the business. The nickel miner said it would pay $12.8 billion in cash for 20 percent of its shares.
“The decision to recommend voting for the re-election of the board should help to stop this conflict as should the offer from Norilsk to buy out Rusal’s stake in the company,” said Andrei Bougrov, Norilsk board member and deputy chief executive officer of Interros.
豫公网安备41010502003434号