Intergeo to stay at home: Mikhail Prokhorov’s company not to merge with Mercator Minerals

Intergeo of Mikhail Prokhorov, which has going to enter the stock market since 2011, won’t be able to do it again: It has rejected a merger with the Canadian Mercator Minerals. The deal window will expire on August 1st, and Intergeo won’t prolong it. Analysts believe that Mr. Prokhorov could be alarmed by the fact that $1.8 billion are necessary to be attracted for the company's development, and the access of Russian investors to foreign money was complicated.

Intergeo, a part of Mikhail Prokhorov’s ONEXIM, renounced the acquisition of the Canadian Mercator Minerals, sources, familiar with the negotiations, told the Kommersant. The Kommersant’s interlocutors didn’t call reasons of this.

99% of Intergeo belong to Mikhail Prokhorov (via Daselina Investments Ltd.), 1% to the company’s president Maxim Finsky through Kirkland Intertrade Corp. The company has 12 licenses for deposits of nonferrous metals in the Russian Federation, including large ones – the Kingash deposit (nickel) and Ak-Sug deposit (copper), but it doesn’t have operating enterprises. General probable reserves and resources of Intergeo make up more than 15 million tons of copper, 9 million tons of nickel, 1 million tons of molybdenum, 750 tons of platinoids and 90 million tons of titanium.

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