Uralkali owner Dmitry Rybolovlev plans to keep a minority stake in the potash producer, while seeking to sell control to a pool of local investors, Troika Dialog said Tuesday.

Rybolovlev will hold on to a 25 percent stake in Silvinit, the country’s largest potash producer, at least initially, the investment bank said in a note following a presentation by Rybolovlev and chief executive Denis Morozov on Monday in Paris.

“Only domestic players could acquire a stake in Uralkali, and a further merger of Uralkali and Silvinit remains feasible,” said Troika Dialog analysts, led by Mikhail Stiskin.

A decision may be made within three months on the Uralkali stock sale, and later on the Silvinit shares, said Marina Alexeyenkova, an analyst at Renaissance Capital.

“Although his stake has been frozen by a Swiss court as part of his divorce proceedings, Rybolovlev has said a deal is possible,” Alexeyenkova said in a note.

Uralkali’s press office, which has said the businessman’s Madura Holding is in talks with potential buyers about selling the stock, didn’t immediately comment on the reports.

Billionaire Suleiman Kerimov may buy a controlling stake in Uralkali for cash and shares in Polyus Gold, in a deal that may close in 10 days, Interfax said, citing an unidentified person familiar with the situation. Uralkali depositary receipts may be valued at $23 apiece.