Norilsk: Studies Suitability Of Keeping Stake In Stillwater
April 08 2010 - 11:51AM
Dow Jones News
Russian miner OAO Norilsk Nickel (GMKN.RS) said Thursday it's
considering "further suitability of keeping" a 51.3% stake in U.S.
platinum and palladium producer Stillwater Mining Co. (SWC).
Norilsk said that the stake is a portfolio investment.
The two companies said in a document filed with the U.S.
Securities and Exchange Commission late Wednesday that they are
studying "potential strategic alternatives" with respect to the
stake.
Those alternatives could include the full or partial sale of
Norilsk's stake in Stillwater on the open market, a sale via a
subscription or private transactions, the document said.
Norilsk bought the stake in 2003 for about $100 million and
877,000 troy ounces of palladium.
The current market price of Norilsk's stake in Stillwater is
about $745 million.
-By Alexander Kolyandr, Dow Jones Newswires; +7 495 232 9192;
Alexander.Kolyandr@dowjones.com
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