Shareholders of Norilsk Nickel believe in palladium

Co-owners of Norilsk Nickel Vladimir Potanin’s Interros and Roman Abramovich's Millhouse plan to invest in a fund of palladium, which is to redeem the stocks of the metal from the Central Bank. The total amount of the fund with expected yield of 15-20% is being determined, previously it was estimated at $2 billion. Interros may invest up to $200 million, Norilsk Nickel itself - up to $350 million. Analysts believe that the participation of the Norilsk Nickel’s shareholders in the project is also designed to attract outside investors.

The shareholders of Norilsk Nickel can take part in financing the fund of palladium, the owner of Interros (30.3% of Norilsk Nickel’s shares) and CEO of Norilsk Nickel Vladimir Potanin said yesterday. "To carry out this transaction, the fund was created, which has limited partners, they will be Norilsk Nickel and possibly Interros and the structure of Roman Abramovich (together with Alexander Abramov it owns 5.87% of Norilsk Nickel through Crispian Investments Ltd.) - said Mr. Potanin. According to the businessman, "an agreement in principle to move on the scheme" has already received, Interros will consider the contribution in the amount of $100-200 million, Norilsk Nickel itself can invest $200-350 million, the amount of investment by the structures of Roman Abramovich hasn’t yet voiced. Mr. Abramovich’s Millhouse said only that "the Norilsk Nickel’s shareholders are ready to consider options of the transaction".