Slavkaly

The foreign limited liability company Slavkali is a subsidiary of GMC Global Energy plc (Great Britain and Northern Ireland), part of the Safmar industrial and financial group. The company implements the construction of the Nezhinsky Mining and Processing Plant (GOK) in the Republic of Belarus. The project involves the construction of a mining complex, an enrichment plant, a gas turbine power plant, a railway, road, housing and other infrastructure.

History

2016: Sberbank Group receives 33.6% of Slavkalia shares

The Sberbank group turned out to be the owner of a 33.6% stake in Slavkalia, a company created by Mikhail Gutseriev to build a potash GOK in Belarus.

A subsidiary of Sberbank, Sberbank Investments Ltd, in 2016 received such a stake in GCM Global Energy Slavkali as a result of an additional issue of $130 million. This is stated in the report of the shareholder of this company, GCM Global Energy, dated July 2020. The share of GCM itself in Slavkalia as a result fell to 41.4%, another 25% in the project belongs to a related party.

The parties concluded an option under which Sberbank Investments can sell, and GCM can redeem the bank's share for an amount equal to $130 million plus 15% per annum in December 2022. In this regard, GCM considers the agreement with Sberbank as a loan and takes into account GCM Global Energy Slavkali as a "subsidiary" with a stake of 75%.