Rusal closer to Norilsk fusion
By Rebecca Bream in London and Catherine Belton in Moscow
Published: April 24 2008 19:45 | Last updated: April 24 2008 19:45
Oleg Deripaska, owner of Russian aluminium producer United Company Rusal, on Thursday passed a milestone on the road to building a Russian national champion in the mining and metals industry with the purchase of a 25 per cent stake in Norilsk Nickel.
He bought the shares from Mikhail Prokhorov, the co-owner of Norilsk, in return for cash and Rusal shares following weeks of stalemate in which Mr Prokhorov and erstwhile business partner Vladimir Potanin considered a rival deal with Metallo-invest, the steel and iron-ore group owned by Alisher Usmanov.
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