MOSCOW, October 1 (RIA Novosti) - KM Invest shareholders came to terms Monday with Russian tycoon Vladimir Potanin buying out its stake in holding company Interros.
KM Invest is a fund which holds the joint investments of Potanin and Mikhail Prokhorov, who announced plans for an investment split at the start of this year.
Interros said in a new release: "Shareholders of the KM Invest fund have signed an agreement amending the founding documents of the company and its subsidiaries to determine the procedure for managing assets jointly owned by Vladimir Potanin and Mikhail Prokhorov."
The shareholders also elected the board of directors equally representing both investors. Potanin has been appointed chairman of the board.
Potanin and Prokhorov each hold 22% in metals giant Norilsk Nickel and Polyus Gold, Russia's leading gold producer, with the remainder of their assets in KM Invest. But some media reports say Prokhorov has recently procured another 3% in NorNickel and Polyus Gold.
The businessmen earlier agreed that Prokhorov would consolidate a controlling stake in Polyus Gold and an energy company spun off from NorNickel. Potanin is supposed to take over NorNickel.
