"Norilsk Nickel" continues to sell assets
Corporation «Norilsk Nickel» in the middle of October, signed an agreement with the company «BCL Limited» with respect to the sale of its South African and Botswana African assets valued at 337 million USD. «BCL Limited» at the mercy of «Norilsk Nickel» 85% of the shares «Tati Nickel Mining Company», Botswana, and 50% of the shares «Nkomati Nickel and ChromeMine», South Africa. By establishing the conditions after the process of signing the buyer assumes full responsibility for debts and environmental liabilities.
This agreement is a significant contribution, «Norilsk Nickel» in its own economic development, given that the transaction is the most significant in the field of management education portfolio because, in accordance with the new policy of the corporation provided a way out of those assets that do not meet the new standards set level. The deal will be completed after the implementation of its main points and provided the relevant authorities the necessary approvals. This time the process will take at least 6 months. It speaks «the AFI» In financial matters, «Norilsk Nickel» advice «of Barclays' Bank, a consultant from the» BCL Limited «.
Previous Transaction «Norilsk Nickel» on the sale of assets has been carried out in Australia — the company «Lake Johnston», located in the west of Australia passed «Poseidon Nickel Ltd.» Australian company. This transaction has been concluded, «Norilsk Nickel» in order to write off their own provision for environmental liabilities and guarantee a very significant monetary compensation.
According to the CEO of the Russian Corporation «Norilsk Nickel» will continue to get rid of those assets that are not able to provide the necessary returns for shareholders and lead to losses. Now the management of «Norilsk Nickel» is focused on the process of exclusion of subsidiaries in different countries — «Lake Johnston» was the last Australian asset conserved even in 2013.
Despite the fact that the «Lake Johnston» delivered at least 12 thousand tons of nickel — the main product of the Russian corporation — preservation is a necessary process, taking into account changes in the conditions of sale of the metal on the world market, and the elimination of unprofitable assets automatically increases the returns to shareholders, «Norilsk Nickel».