OREANDA-NEWS. August 26, 2011. OJSC MMC Norilsk Nickel (hereinafter referred to as MMC Norilsk Nickel or the Company) sends the offer for acquisition of 15% of the Company shares for USD 8.75 billion from LLC UC Rusal Investment Management (part of UC Rusal), reported the press-centre of Norilsk Nickel.

The offer was approved by the majority of Norilsk Nickel Board of Directors’ meeting in absentia.

The offer envisages the purchase of 28,594,162 ordinary shares from LLC UC Rusal Investment Management. The offer price of USD 306 per share is based on recommendations of independent investment banks and represents 20% premium to weighted average market price for the last 6 months.

The offer is valid until 18:00, September 5 (Moscow time).

The Company expects that in case the offer is accepted, MMC Norilsk Nickel shall receive all relevant permits of regulatory bodies.

MMC Norilsk Nickel believes that UC Rusal shareholders shall express interest in accepting the offer, considering the premium to current market price of the Company shares. The suggested transaction serves to the best interest of MMC Norilsk Nickel shareholders as it shall provide for resolution of the longstanding conflict between particular groups of shareholders.