September 24, 2013 / 6:37 AM / 4 years ago

Russia's Uralkali says China's CIC buys 12.5 pct stake

MOSCOW, Sept 24 (Reuters) - Russian potash miner Uralkali said on Tuesday that a unit of Chinese sovereign wealth fund China Investment Corp (CIC) had acquired a 12.5-percent stake in the firm through the conversion of bonds into ordinary shares.

The exchangeable bonds were issued by an entity, called Wadge Holdings Limited, that owned the stake. Wadge itself is owned by Uralkali’s main shareholders led by tycoon Suleiman Kerimov.

Kerimov’s foundation continues to own 21.75 percent of Uralkali, the world’s largest potash producer. His partners Filaret Galtchev and Anatoly Skurov own 7 percent and 4.8 percent respectively.

The remaining 53.95 percent is in free float.

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