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Uralkali Investor Uralchem Opts Out of $1.5 Billion Buyback

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One of PAO Uralkali’s largest investors said it won’t return shares in the potash company’s $1.5 billion buyback program, leaving a bigger portion of the cash pile to minority holders.

“We were studying the possibility a while ago but in the end we decided not to tender shares,” OAO Uralchem Chief Executive Officer Dmitry Konyaev said Tuesday by e-mail. The company sees its investment as “strategic” and is interested in Uralkali’s stable development, he said.