Bloomberg reported that Norilsk Nickel has agreed to buy USD 4 billion worth of shares in its Norilsk Nickel Investments unit from another subsidiary with a view to canceling the stake.

As per report, Norilsk will acquire the stock from its Corbiere Holdings unit by offsetting Corbiere's debt to the same value. Both units hold treasury shares in Norilsk and the transaction is needed to cancel a portion of those shares.

Source - Bloomberg

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