MOSCOW: Russia's largest lender Sberbank says: Its investment unit bought 10.18 percent of voting shares in Russian potash producer Uralkali from Cyprus-based firm Rinsoco Trading Co and may sell the stake in the future
Sberbank bought shares from Belarusian businessman Dmitri Lobyak, Interfax news agency reported, citing Sberbank.
Sberbank did not disclose the price of the deal.
"Given the experience in the fertiliser sector, we consider this financial investment attractive in terms of return on investment," Sberbank said.
"Sberbank will decide on the future of the investment based on the market situation and potential profitability. If there is a possibility for sale at a reasonable valuation, we will of course use it," it added.
Russian businessman Mikhail Prokhorov sold his 20 percent stake in Uralkali, one of the world's largest producers of crop nutrient potash, to Lobyak in 2016.
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