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Norilsk Nickel to sell energy assets if spin-off fails
RBC, 16.11.2007, Moscow 18:02:52.Norilsk Nickel will be ready to sell its non-core energy assets should its shareholders vote against their divestment as part of the EnergoPolyus spin-off, the Russian nickel producer's General Director Denis Morozov told journalists. According to the chief executive, the purpose of the spin-off is to create value for EnergoPolyus. Morozov did not rule out that other opportunities would be looked into if shareholders did not approve the divestment scheme. At the same time, he expressed confidence that one of Norilsk Nickel's major shareholders, Oneksim Group President Mikhail Prokhorov, would not vote against the spin-off. Norilsk Nickel shareholders are anticipated to approve the divestment of the company's energy assets into a separate company, EnergoPolyus, at an extraordinary meeting on December 14.
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