Norilsk Nickel Not Likely to Divest Energy Assets

the shareholders of Russia's metal giant Norilsk Nickel are not likely to reach an agreement on the divestment of energy assets and the creation of an independent firm Energopolyus.

The investment fund Interros and minority shareholders have suggested divesting energy assets, while Oneksim Group is going to cancel the deal.

Thus the energy assets will still be owned by Norilsk Nickel which it can sell, and the equity fund Basic Element is named as the potential buyer of the assets.

If the deal is successful, Basic Element could become one of Russia's top three energy producers, along with Gazprom and HydroOGK.