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UPDATE 2-Russia's Putin targets contracts on Libya trip
(Adds Putin meets Gaddafi, talks, colour). By Oleg Shchedrov. ... Putin, on the first visit by a Kremlin leader since 1985, later began talks with Gaddafi. ...
Apr 16, 2008
Russia's Putin targets contracts on Libya trip
TRIPOLI - Russian President Vladimir Putin met Libya leader Muammar Gaddafi on Wednesday at the start of a trip intended to finalize multibillion dollar ...
Apr 16, 2008
UPDATE 1-Russia's Putin targets contracts on Libya trip
... TRIPOLI, April 16 - Russian President Vladimir Putin plans to oversee the signing of deals worth more than $10 billion on a trip to Libya aimed at grabbing a ...
Apr 16, 2008
Putin agrees to head Russia's biggest party
MOSCOW - President Vladimir Putin agreed on Tuesday to lead Russia's biggest political party, a move that will bolster his power after he steps down as Kremlin ...
Apr 15, 2008
Russia's biggest party seeks Putin as chairman
MOSCOW - Russia's biggest party created a new role of chairman on Monday and said it would ask President Vladimir Putin to take the job, a possible final clue ...
Apr 14, 2008
Putin to visit Libya: Kremlin
MOSCOW - Russian President Vladimir Putin will travel to Libya for talks with Libyan leader Muammar Gaddafi on Apr. 16-17, the Kremlin said on Monday. ...
Apr 14, 2008
Russia's Putin to visit Libya - Kremlin
MOSCOW, April 14 - Russian President Vladimir Putin will travel to Libya for talks with Libyan leader Muammar Gaddafi on Apr. 16 ...
Apr 14, 2008
Putin wants Russian space industry to shine again
MOSCOW - President Vladimir Putin on Friday told officials to beef up Russia's space program and speed financing of a new cosmodrome in the Far East to keep ...
Apr 11, 2008
Russian oligarch group backs Putin for party chief
MOSCOW - Heading Russia's biggest political party would be a logical step for Vladimir Putin when he steps down as president, the head of Russia's most ...
Apr 08, 2008
Russia's biggest party to ask Putin to lead it
MOSCOW - Russia's biggest party will invite Vladimir Putin to become its leader, the party's chief said on Monday, a role that would further bolster Putin's ...
Apr 07, 2008
News results 11-20 of 2970
Putin wants Russian space industry to shine again
MOSCOW - President Vladimir Putin on Friday told officials to beef up Russia's space program and speed financing of a new cosmodrome in the Far East to keep ...
Apr 11, 2008
Russia may boost PM's powers in regions
MOSCOW - Russia's government may soon gain control over the Kremlin's regional envoys, a move that would boost President Vladimir Putin's powers as a future ...
Apr 10, 2008
Russian oligarch group backs Putin for party chief
MOSCOW - Heading Russia's biggest political party would be a logical step for Vladimir Putin when he steps down as president, the head of Russia's most ...
Apr 08, 2008
Russian oligarchs ask Medvedev for fair play
... Entrepreneurs (RSPP), dubbed by the media as a "billionaires' trade union", as part of his preparations for taking over from President Vladimir Putin on May 7. ...
Apr 08, 2008
Russia's biggest party to ask Putin to lead it
MOSCOW - Russia's biggest party will invite Vladimir Putin to become its leader, the party's chief said on Monday, a role that would further bolster Putin's ...
Apr 07, 2008
Bush and Putin fail to resolve missile differences
SOCHI, Russia - US President George W. Bush and Russia's Vladimir Putin ended their last face-to-face meeting as heads of state on Sunday with warm words for ...
Apr 07, 2008
Russia's ruling party wants Putin as its leader
MOSCOW - The pro-Kremlin leader of Russia's biggest party said on Monday he wanted outgoing President Vladimir Putin to take over as party chief. ...
Apr 07, 2008
Blast injures 2 Russians after Putin-Bush summit
... adds details) MOSCOW, April 7 - An explosion injured two people in the Russian Black Sea resort of Sochi hours after Russia's President Vladimir Putin met US ...
Apr 07, 2008
Blast injures police after Putin-Bush summit-agency
MOSCOW, April 7 - An explosion injured a policeman in the Russian Black Sea resort of Sochi after Russia's President Vladimir Putin met United States leader ...
Apr 07, 2008
Bush and Putin show bond still strong despite rows
... years after he said he had peered into the Russian leader's soul, US President George W. Bush made clear he still had a strong bond with Vladimir Putin as they ...
Apr 06, 2008

News results 21-30 of 2970
Bush and Putin fail to resolve missile differences
... departure, Hadley quotes) By Susan Cornwell and Oleg Shchedrov SOCHI, Russia, April 6 - US President George W. Bush and Russia's Vladimir Putin ended their ...
Apr 06, 2008
Bush, Putin fail to resolve missile differences
SOCHI, Russia - President George W. Bush and Russia's Vladimir Putin ended their last face-to-face meeting as heads of state on Sunday with warm words for each ...
Apr 06, 2008
Bush and Putin fail to resolve missile differences
SOCHI, Russia - President George W. Bush and Russia's Vladimir Putin ended their last face-to-face meeting as heads of state on Sunday with warm words for each ...
Apr 06, 2008
Putin optimistic US, Russia can find shield deal
SOCHI, Russia, April 6 - President Vladimir Putin said on Sunday he feels "cautious optimism" that Russia and the United States could eventually resolve their ...
Apr 06, 2008
Putin: Russia still opposes US missile shield
SOCHI, Russia, April 6 - President Vladimir Putin said on Sunday he still opposes US plans to deploy a missile defence shield in Europe but that there had been ...
Apr 06, 2008
Bush and Putin in friendly mood at farewell summit
SOCHI, Russia - President George W. Bush joined Russia's Vladimir Putin in a folk dance on Saturday as they paraded their personal chemistry a final time ...
Apr 05, 2008
Bush, Putin in friendly mood at farewell summit
... updates with details from dinner) By Susan Cornwell and Oleg Shchedrov SOCHI, Russia, April 5 - US President George W. Bush joined Russia's Vladimir Putin in a ...
Apr 05, 2008
Bush, Putin face tough tasks in farewell summit
SOCHI, Russia - President George W. Bush and Russia's Vladimir Putin will have one last chance on Sunday to try to mend frayed relations face-to-face but with ...
Apr 05, 2008
Bush, Putin face tough tasks in farewell summit
By Matt Spetalnick and Oleg Shchedrov SOCHI, Russia, April 6 - US President George W. Bush and Russia's Vladimir Putin will have one last chance on Sunday to ...
Apr 05, 2008
NATO leaders meet Putin, seek thaw with Russia
BUCHAREST - NATO began a farewell summit with Russian President Vladimir Putin on Friday which both sides hoped would thaw chilly relations and set the stage ...
Apr 04, 2008

News results 31-40 of 2970
Putin tells NATO: "let's be friends"
BUCHAREST - Russian President Vladimir Putin urged NATO to work towards compromise on disputes over enlargement, arms control and missile defence at a cordial ...
Apr 04, 2008
Putin tells NATO: "let's be friends"
BUCHAREST - Russian President Vladimir Putin urged NATO to work towards compromise on disputes over enlargement, arms control and missile defense at a cordial ...
Apr 04, 2008
Bush, Putin aim to defuse tensions in Black Sea summit
By Matt Spetalnick and Douglas Hamilton ZAGREB, April 5 - US President George W. Bush and Russia's Vladimir Putin will try to ease strains over missile defence ...
Apr 04, 2008
Putin says US listening to missile shield concerns
BUCHAREST - Russian President Vladimir Putin said on Friday he was encouraged that Washington had listened to Russian concerns about the planned US missile ...
Apr 04, 2008
Putin happy US heard its missile shield concerns
BUCHAREST - Russian President Vladimir Putin said on Friday he was encouraged that Washington had listened to Russian concerns about the planned US missile ...
Apr 04, 2008
Putin happy with NATO talks, worried by enlargement
BUCHAREST - Russian President Vladimir Putin said he was satisfied with a farewell summit with NATO leaders on Friday but that NATO's plans for further ...
Apr 04, 2008
Putin says seeks NATO cooperation despite problems
BUCHAREST - President Vladimir Putin told NATO leaders on Friday Russia sees scope for better cooperation with the alliance but reiterated Moscow's objections ...
Apr 04, 2008
Bush on brief visit to NATO invitee Croatia
... The 24-hour visit to Croatia is a brief interlude for Bush between the NATO summit in Bucharest also attended by Russian President Vladimir Putin, and a ...
Apr 04, 2008
Russia's Putin to focus on positive in NATO talks
(Adds Putin's arrival, letter to separatist leaders ... But NATO also pledged to let the two former Soviet republics join one day, a decision that could irk Putin. ...
Apr 03, 2008
NATO leaders look for fresh start with Putin
BUCHAREST - NATO leaders meet Russia's Vladimir Putin on Friday, hoping to begin a thaw in chilly relations with their former Cold War foe and lay the ground ...
Apr 03, 2008

Rusal agrees to buy Prokhorov's Norilsk stake

By Douglas Busvine
MOSCOW, Nov 23 (Reuters) - Russian tycoon Mikhail Prokhorov agreed on Friday to sell a strategic stake in Norilsk Nickel to Oleg Deripaska's United Company Rusal, pressuring his erstwhile partner to close a deal first.
But the transaction could only happen if Vladimir Potanin, co-owner of Norilsk (GMKN.MM: Quote, Profile, Research), failed to take up an earlier offer to buy a one-quarter stake in Norilsk from Prokhorov's Onexim Group for $15.7 billion.
A tie-up between Rusal, the world's largest producer of primary aluminum, and Norilsk, the No. 1 nickel miner, would mark a step towards creating an all-Russian major that could take on acquisitive global titans such as BHP Billiton (BHP.AX: Quote, Profile, Research) (BLT.L: Quote, Profile, Research).
"This strategic transaction paves the way to develop the enlarged UC Rusal into a global, diversified metals, mining and energy group," Alexander Bulygin, chief executive of Rusal, said in a statement.
Under the deal Rusal, controlled by Deripaska's Basic Element holding company, would acquire 25 percent plus one share in Norilsk.
Onexim, a $25 billion investment group, would become an 11 percent shareholder in an enlarged UC Rusal, with the balance to be paid in cash.
Rusal said it has received a commitment letter from ABN AMRO, BNP Paribas, Credit Suisse, and Merrill Lynch to provide a credit facility to finance the cash component of the deal. No details on price were revealed.
Dmitry Razumov, chief executive of Onexim Group, said: "The potential combination of UC Rusal and MMC Norilsk Nickel into a Russian metals and mining giant ... will provide superior value to both companies' shareholders."
Norilsk mines a fifth of the world's nickel and more than half of its palladium. Rusal accounts for 12 percent of world aluminum output and 15 percent of alumina, respectively.
Prokhorov owns 28.2 percent of Norilsk and Potanin 25.3 percent. Deripaska owns 66 percent of Rusal, Viktor Vekselberg and associates 22 percent and trading house Glencore 12 percent.
MERGER 'INTERESTING'
Prokhorov offered the one-quarter stake in Norilsk to Potanin on Wednesday at a price of $293.60 per share plus a 12.5 percent premium, but has said he could talk with other parties if Potanin did not accept his terms.
Potanin has 45 days to close a deal. Potanin's Interros holding company declined to comment, but he is on record as saying a Norilsk-Rusal merger could make sense.

"A big company would have more serious capabilities for financing its projects. It would have a big potential for further international mergers and acquisitions," he told the Financial Times in a recent interview.
A unified metals major would probably get a warm welcome in the Kremlin, which is eager for strategic industries to remain under Russian control.
And, with voters due to elect a successor to President Vladimir Putin next March, Russia's industry barons will want to get their house in order in good time.

DIVORCE
That has proved difficult, however, as Potanin and Prokhorov have struggled all year to separate their business empire, built up during the chaotic 1990s, after falling out with each other.
Sources familiar with the matter said that Prokhorov and Deripaska had signed their agreement on Tuesday, triggering the Prokhorov offer to sell out to Potanin on Wednesday.
Shares in Norilsk closed nearly 5 percent higher on Friday at 7,085 roubles ($292), valuing the company at $56 billion. Rusal is not listed but earlier this year had planned a stock market float that would have valued it at over $30 billion.
That transaction was pulled as the global credit crunch soured market conditions, Rusal's shareholders said at the time. Talks to buy into Norilsk also played a part in delaying the IPO, one industry source said. ($1=24.26 Rouble) (Additional reporting by Guy Faulconbridge and Aleksandras Budrys, editing by Gerald E. McCormick)


Prokhorov exit brings Norilsk closer to Kremlin
Thu Feb 1, 2007 9:18am EST

By Robin Paxton and Elif Kaban - Analysis

MOSCOW (Reuters) - A $30 billion company and one-fifth of the world's nickel output under Kremlin control? That may be the outcome of Russian billionaire Mikhail Prokhorov's exit from Norilsk Nickel (GMKN.MM: Quote, Profile, Research), Russia's top metals miner, investment bankers and analysts said on Thursday.

Prokhorov will sell his Norilsk stake, worth more than $8 billion, to Vladimir Potanin, his long-term business partner and a former deputy prime minister instrumental in the privatization of Norilsk. Potanin will then own over 50 percent of the miner.

"The most likely scenario is Norilsk ends up being owned 50 percent plus one share by a state vehicle, and this might be a step in that direction," said Al Breach, UBS chief economist in Moscow.

"Norilsk is such an exceptional asset, you can see the logic for putting it in state hands."

The Kremlin has been consolidating its hold over strategic energy and mineral assets. Norilsk's mines high above the Arctic Circle supply more than half of the world's palladium, a precious metal used in jewelry and to clean vehicle exhausts.

"Prokhorov wanted to cash out," said a senior investment banker in Moscow. "There is also the non-benevolent view that the government will be muscling into Norilsk Nickel."

If that is true, it is unlikely to happen overnight.

A Norilsk spokesman said Prokhorov would remain with the company at least until year-end, while a source close to Potanin said the businessman had no immediate plans to sell shares.

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