By Lukas I. Alpert
MOSCOW--The head of VTB Bank (VTBR.RS), Russia's second-largest
financial institution, said Friday that it was ready to finance any
sale of potash producer Uralkali (URKA.RS).
However, Andrei Kostin said that as far as he knows, no
immediate deal is being set up.
"At the moment I don't feel like there is anything to finance,"
he said in comments broadcast on state television. "If someone
wants to buy [the stake] he should have a couple of billion, as he
will not be able to get 100% financing."
People close the situation say Uralkali's primary owner,
Suleiman Kerimov, and his partners are in talks to sell their
stakes in the fertilizer company. Among those interested include
several Russian tycoons as well as investors in Asia, people
familiar with the matter say.
The effort to sell comes as the company's Chief Executive
Vladislav Baumgertner remains under arrest on charges of abuse of
power in neighboring Belarus following Uralkali's departure from a
trade partnership with the country's state-run potash miner,
Belarukali OAO.
Belarus' President Alexander Lukashenko has said a settlement
could only be reached if Mr. Kerimov and his partners were to sell
the company. On Thursday, Mr. Baumgertner was released from prison
and placed under house arrest in Minsk.
This week, China's sovereign wealth fund took a 12.5% stake in
Uralkali by exercising an option to convert a bond to shares.
--Alexander Kolyandr contributed to this report.
Write to Lukas I. Alpert at lukas.alpert@wsj.com
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