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Divorce with a view to the future

January 31 2007

Today it became known that the co-owners of the group "Interros" Vladimir Potanin and Mikhail Prokhorov intend this year to complete the process of restructuring its business. Unlike the many of his predecessors, parting businessmen "in a family" quiet. All assets are divided equally. "Interros" as the management company will be owned by Vladimir Potanin and Mikhail Prokhorov will withdraw from the shareholders and management of their assets will create its own management company.

Norilsk Nickel will be purchased Potanin and will remain under the control of Interros. The consolidation of energy and hydrogen assets will be established an independent company, the shares of which will belong to M. Prokhorov. In turn, he will relinquish his place in Potanin's Board of Directors of Norilsk Nickel. After a number of projects will be completed in the company, Norilsk Nickel, Mr. Prokhorov will surrender its authority CEO.

As stated in a press release the company Inetrros "shares" the Pole "," Rosbank "," Prof-Media "," Open investments "," Power Machines "and other assets of Interros will be divided between Potanin and M. Prokhorov on a parity basis and the respective shares transferred to the administration of its management companies.

According to some analysts, business specialization Interros demanded concentration of financial support and freedom of management decisions, because two heads are well, but only if they are not on some shoulders. The past year has shown clear evidence that the implementation of large-scale business alone reduces the efficiency and inhibits initiative.

As the head of Interros, Vladimir Potanin, the first idea of the possible separation of business was discussed more than a year ago, when the company has already had extensive experience of successful restructuring, and there have been promising new directions. "The necessity of this step, we discussed a few months. It is obvious that for the full implementation of the lessons we have investment potential requires a new degree of freedom in decision making", - said the businessman. This opinion and Mr. Prokhorov. "Y" Interros, new, extremely promising directions in the field of traditional and alternative energy. I intend to seriously address this sphere ", - said director general of Norilsk Nickel.

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