Companies owned by Russian billionaire Suleiman Kerimov have asked the country's top lender Sberbank to finance the acquisition of a controlling interest in Belausian potash maker Belaruskali, Sberbank Deputy Chairman Andrei Donskikh said on Thursday.
"They have shown appetite for the deal. We are at a negotiating stage," Donskikh told RIA Novosti. "Sberbank also intends to participate in the deal as an organizer."
Last week, Belarusian President Alexander Lukashenko, whose country is in the midst of a financial turmoil, said his government was ready to sell state-run Belaruskali for $30 billion as part of the country's privatization program aimed at supporting its economy.
Local media said Kerimov, who already owns major stakes in Russia's leading potash producers, had met with Lukashenko and agreed terms for buying a 50 percent plus one share stake in Belaruskali for $15 billion. If the purchase is successful, Kerimov's assets will make the world's largest potash producer.
Donskikh said the sale was complicated but he expected it to be completed this year.
"We are not talking of any specific parameters or sums yet. The $30 billion valuation of Belaruskali requires adjustment and independent checks," Donskikh said. "We believe the valuation should be examined by a professional appraiser."
