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Abramovich Buys $1.5 Billion Norilsk Stake in Rusal Deal

Roman Abramovich agreed to revised terms including changes to planned dividends in a deal to buy a $1.5 billion stake in OAO GMK Norilsk Nickel from United Co. Rusal, according to three people familiar with the matter.

Norilsk may distribute at least $9 billion in dividends over three years, the people said, asking not to be identified because the plan isn’t public. The figure is down from the $10 billion given last week because Abramovich will buy equities from shareholders instead of treasury stock, the people said.