Corporate Communications

VTB Capital takes part in Uralkali-Silvinit merger

22 December 2010

The Board of Directors of Uralkali and the Board of Directors of Silvinit agreed to announce a recommended merger of their businesses. The market capitalization of the combined group based on the closing prices of the two companies on 17 December 2010 was USD 23.9bn.

Uralkali will be the surviving entity following the proposed combination and will be traded on the RTS, MICEX and the London Stock Exchange. The proposed Merger requires the approval of both sets of shareholders and is subject to Government approval and regulatory filings.

VTB Capital acted as Joint Financial Adviser with Goldman Sachs and Sole Fairness Opinion Adviser to Uralkali. VTB Capital also acted as adviser and financing partner on the acquisition of a majority stake in Uralkali by the largest shareholder earlier this year.

Mikhail Butrin, Co-Head of Global Banking at VTB Capital, said: “The transaction will be one of the largest M&A transactions in Russian corporate history. It will also be one of the largest European transactions this year and is expected to be one of the highest profile Natural Resource transactions globally. The combined group will be one of the world’s leading Potash companies”.

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