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The annual financial statements of Norilsk Nickel catalyzed the conflict between its shareholders

28 July 2011
The annual financial statements of Norilsk Nickel catalyzed the conflict between its shareholders

In the company «Norilsk Nickel» (largest

world’s producer of Nickel and palladium,

a leading producer of cobalt, copper,

rhodium and platinum) sparked the conflict

shareholders caused by the late

financial statements according to IFRS.


According to some sources,


the main reason for late reporting


it showed the MMC transaction with an offshore


companies. Commented


this step Lenar Hafizov — head


analytical Department of the publication


«Prime mark»: «the Use of offshore


structures in transactions complicates the establishment


the real owners, and because


the closeness of offshore install


the existence of irregularities in the transaction „Norilsk


Nickel“ and „Trafigura“ hard enough».


In connection with the continuation of the conflict between


MMC shareholders, analysts, investment


market foresee a downgrade


popularity for securities of the company.






The major shareholders of «Norilsk Nickel»


are:





  • Interros holding company — 30%;
  • UC RUSAL — 25%;
  • «Trafigura Beheer BV» — 8%;
  • Holding «Metalloinvest» — 4%.


Yesterday to closing of trading


shares of «Norilsk Nickel» has fallen to 269 $, and the index


MICEX fell by almost 0.3%. Recall


analysts Morgan Stanley (even if


maintaining the target price per share in


285 $) recommended that the sale of assets


campaign (replacing the previous recommendation


«hold» action). The Specialists Of «Morgan


Stanley» argued his forecast for


quotes the expected decline in the prices of


Nickel in the near future (9% in 2011


and 5% in the 2012th year).

27 July 2011
29 July 2011