Support The Moscow Times!

Mitsui Considers Usmanov

Mitsui may acquire a minority stake in Alisher Usmanov’s Metalloinvest holding ahead of a listing in London next year, The Independent reported on Sunday, citing informed sources.

Metalloinvest “wants to secure Mitsui as a cornerstone investor so as to provide ‘a benchmark’ for the value of the flotation,” The Independent said, citing a source close to Metalloinvest. “For example, selling a 10 percent stake at $1.5 billion to $2 billion would value the group at $15 billion to $20 billion — though some experts believe that Metalloinvest could be valued as high as $30 billion when it joins the London Stock Exchange in 2011,” it said.

Sale of a minority stake would give investors confidence that Metalloinvest deserves a high valuation, The Independent said. “The deal is expected to give Mitsui rights to be the agent to sell Metalloinvest’s products … into Asia,” it said.  Metalloinvest has not commented on the report.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.