Russia’s Federal Antimonopoly Service approves UC RUSAL’s acquisition of a 25% plus one share stake in Norilsk Nickel from ONEXIM Group
Notification of the approval was announced by FAS on 31 January 2008.
“Today's decision by the FAS is of great significance for our transaction. This development supports the creation of Russia’s first global diversified metals and mining corporation. Our ambitious diversification strategy will see the company join the ranks of the world’s top five metals and mining giants,” said Alexander Bulygin, CEO, UC RUSAL. “We plan to complete the deal in the near future”.
The agreement for UC RUSAL to purchase a 25% plus one share interest in MMC Norilsk Nickel from ONEXIM Group was signed in November 2007. The transaction is the first step by UC RUSAL to become Russia’s first global diversified metals and mining corporation.
About UC RUSAL:
United Company RUSAL (www.rusal.com) is the global leader in the aluminium industry, accounting for approximately 12% and 15% of global production of aluminium and alumina respectively. The company was founded in March 2007 through the merger of RUSAL, SUAL, and the alumina assets of Glencore. UC RUSAL sells its products in 70 countries worldwide and employs 100,000 people in 19 countries, across 5 continents.
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