切尔西老板入股Norilsk

Roman Abramovich, the Russian billionaire owner of Chelsea football club, has agreed to buy a 7.3 per cent stake in Norilsk Nickelin a deal to end the company’s long-running shareholder conflict.

切尔西足球俱乐部的老板、俄罗斯亿万富翁罗曼·阿布拉莫维奇(Roman Abramovich)已同意购买Norilsk Nickel 7.3%的股份。这项协议将结束Norilsk旷日持久的股东冲突。

While Mr Abramovich’s stake will be dwarfed by the stakes of Norilsk’s two other billionaire shareholders – Vladimir Potanin and Oleg Deripaska – the Chelsea owner will hold the largest voting stake of the three, allowing him to intervene in any disputes at the world’s largest nickel and palladium producer.

虽然与Norilsk另外两名亿万富翁股东——弗拉基米尔·波塔宁(Vladimir Potanin)和奥列格·杰里帕斯卡(Oleg Deripaska)持有的股份相比，阿布拉莫维奇的持股比例相当小，但这位切尔西的老板所持有的表决权股份将是三人中最多的，因此他能够干预这家全球最大的镍钯生产商的任何争议。

The deal appears to signal the end of one of Russia’s most colourful shareholder battles, which has hindered Norilsk’s strategy and corporate governance since 2008, the year Mr Deripaska’s Rusalfirst invested.

这笔交易似乎标志着俄罗斯最为曲折的一场股东斗争的终结。自2008年以来，股东斗争妨碍了Norilsk的战略和公司治理。2008年杰里帕斯卡的俄罗斯铝业(Rusal)首次投资该公司。

Millhouse, the investment group owned by Mr Abramovich, will acquire the stake from Norilsk subsidiaries at market price, an amount that would suggest a valuation of about $2bn, and also three seats on the 13-member board of directors.

阿布拉莫维奇旗下投资集团——米尔豪斯资本公司(Millhouse)将以市价——20亿美元——从Norilsk的子公司手中收购上述股份，同时将获得Norilsk董事会13个席位中的3席。

Millhouse, Rusal and Mr Potanin’s Interroswill each place 7.3 per cent of their stakes into an escrow account controlled by Millhouse, giving Abramovich’s group a 22 per cent voting stake versus 20.7 per cent for Interros and 17.8 per cent for Rusal.

米尔豪斯公司、俄罗斯铝业以及波塔宁的Interros将分别拿出所持股份中的7.3%放到一个由米尔豪斯控制的托管账户中。阿布拉莫维奇的公司将获得22%的表决权股份，而Interros为20.7%、俄罗斯铝业占17.8%。

Analysts said the real winners of the deal appeared to be Mr Abramovich, who could recoup as much as 5 per cent of his investment a year in dividends, and Norilsk minority shareholders, who have been promised “large-scale adjustments to the company’s strategy, sales policy and dividends policy.

分析人士表示，这笔交易真正的赢家似乎是阿布拉莫维奇，他每年获得的分红可达投资额的5%，而Norilsk的中小股东则得到承诺，公司战略、销售政策和分红政策将会“大规模调整。

Mr Potanin and Mr Deripaska, who have been at odds over Norilsk’s stock buybacks and dividend policy, will lose their blocking voting stakes.

一直就Norilsk的股票回购和分红政策争执不下的波塔宁与杰里帕斯卡将失去否决权股份。