Stillwater Says Norilsk Nickel Sells Entire Stake in U.S. Miner-Shanghai Metals Market

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Stillwater Says Norilsk Nickel Sells Entire Stake in U.S. Miner

Industry News 10:09:57AM Dec 15, 2010 Source:SMM

Dec. 15 -- Stillwater Mining Co. said its majority shareholder, OAO GNK Norilsk Nickel, sold its entire stake in the U.S. metals company, in an e-mailed statement.

Norilsk’s Norimet unit sold 37 million Stillwater shares at $19.50 per share and the remaining 9 million shares to UBS AG, said the statement.

Moscow-based Norilsk said it was selling its shares to rationalize its international business operations and focus on its core operations, in a Nov. 29 statement.

Stillwater said it is the only U.S. producer of palladium and platinum and the largest primary producer of platinum group metals outside of South Africa.

Credit Suisse AG, JP Morgan Chase & Co, UBS AG and VTB Capital acted as bookrunners for the public offering of the common stock.

 

Key Words:  nickel  

Stillwater Says Norilsk Nickel Sells Entire Stake in U.S. Miner

Industry News 10:09:57AM Dec 15, 2010 Source:SMM

Dec. 15 -- Stillwater Mining Co. said its majority shareholder, OAO GNK Norilsk Nickel, sold its entire stake in the U.S. metals company, in an e-mailed statement.

Norilsk’s Norimet unit sold 37 million Stillwater shares at $19.50 per share and the remaining 9 million shares to UBS AG, said the statement.

Moscow-based Norilsk said it was selling its shares to rationalize its international business operations and focus on its core operations, in a Nov. 29 statement.

Stillwater said it is the only U.S. producer of palladium and platinum and the largest primary producer of platinum group metals outside of South Africa.

Credit Suisse AG, JP Morgan Chase & Co, UBS AG and VTB Capital acted as bookrunners for the public offering of the common stock.

 

Key Words:  nickel