LONDON, Oct 18 (Reuters) - Kazakh miner Eurasian Natural Resources Corporation (ENRC) is planning to buy out its founders' African assets, in exchange for increasing their ownership in the company, The Independent on Sunday reported.
The newspaper, which did not cite sources, said the deal to buy the assets held in a vehicle called International Mineral Resources could be worth more than 1.2 billion pounds ($1.95 billion), which would be paid entirely or mostly in shares.
It said the purchase would increase the stake of ENRC's three founders -- Patokh Chodiev, Alijan Ibragimov, and Alexander Machkevich -- from nearly 44 percent.
The paper added that the deal would not take place until the first quarter of 2010.
A spokeswoman for ENRC declined to comment.
(Reporting by James Davey, editing by Will Waterman) ($1=.6157 Pound) Keywords: ENRC/ (james.davey@thomsonreuters.com; +44 20 7542 7674; Reuters Messaging: james.davey.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The newspaper, which did not cite sources, said the deal to buy the assets held in a vehicle called International Mineral Resources could be worth more than 1.2 billion pounds ($1.95 billion), which would be paid entirely or mostly in shares.
It said the purchase would increase the stake of ENRC's three founders -- Patokh Chodiev, Alijan Ibragimov, and Alexander Machkevich -- from nearly 44 percent.
The paper added that the deal would not take place until the first quarter of 2010.
A spokeswoman for ENRC declined to comment.
(Reporting by James Davey, editing by Will Waterman) ($1=.6157 Pound) Keywords: ENRC/ (james.davey@thomsonreuters.com; +44 20 7542 7674; Reuters Messaging: james.davey.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
