Abramovich buys Norilsk stake to settle shareholder spat

Russia’s RUSAL said on Tuesday that billionaire Roman Abramovich has agreed to buy 7.3 per cent of Norilsk Nickel, a stake worth about US$2 billion, in a move that is aimed at ending a four-year-old power struggle between the two biggest shareholders of the Arctic miner. Sources told Reuters last month that Abramovich, the owner of Chelsea soccer club, may step up as a “white knight” to act as a buffer between Russian tycoon Vladimir Potanin, who owns 28 per cent of Norilsk Nickel, and Oleg Deripaska, whose aluminium firm RUSAL owns 25 per cent.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1097222/abramovich-buys-norilsk-stake-settle-shareholder-spat