Billionaire Alexander Nesis sold shares in OAO Uralkali, the world’s largest potash producer, two weeks after the company bought out fellow shareholder Zelimkhan Mutsoev for $1.3 billion, according to three people with knowledge of the matter.
Nesis sold his stock this month, the people said, asking not to be identified as the information is private. They didn’t provide any additional details before an official statement.
Nesis held 5.1 percent of the Berezniki, Russia-based fertilizer producer at the end of April, which would be valued at about $870 million at today’s market price.
Nesis bought into Uralkali together with billionaires Suleiman Kerimov and Filaret Galchev in 2010. The company in April said that he reduced his stake to 5.1 percent from 9.94 percent.
Uralkali’s shares fell 13 percent in Moscow in the first four days of this week, before climbing as much as 4.3 percent today in Moscow. The company is carrying out a $1.6 billion buyback from the market, with purchases totalling $1.25 billion as of July 19, according to a company statement.
The press services of Nesis’s ICT Group and Uralkali press service declined to comment for the story.
Mutsoev agreed in June to sell his 189 million shares, a stake of about 6.4 percent, for 217.3 rubles a share. Uralkali traded up 2.1 percent at 190.40 rubles by 5:21 p.m. in Moscow.
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