Russia's Silvinit offers to buy potash rival's stake

YEKATERINBURG, Russia, March 26 (Reuters) - Russian potash miner Silvinit SILV.RTS has offered to buy out a 25.1 percent stake held by managers of rival miner Uralkali URKA.MM, a source close to Silvinit's main shareholders said on Wednesday.

Silvinit would offer a 10 percent premium to market price for the stake held by Uralkali board members Dmitry Rybolovlev and Vladimir Shevtsov, the source told Reuters.

Rybolovlev on Tuesday said he opposed plans by Silvinit to raise a loan to develop its portion of the Verkhnekamskoye potash and carnallite deposit and would vote against the proposal at a board meeting scheduled for April 19.

Silvinit paid $1.47 billion for the rights to the deposit at an auction this month. (Reporting by Natalya Shurmina, writing by Aleksandras Budrys, editing by Robin Paxton)


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