The new company that emerged following the unification has been named the United Company Russian Aluminum.
"We hope we will see the deal through to the end," he said.
The deal will be finalized by April 1, 2007. RusAl will have a 66% stake in the unified company, while SUAL will hold 22% and Glencore 12%.
RusAl CEO Alexander Bulygin said the new company will have an estimated value of $25-$30 billion, adding that Russia's Anti-Monopoly Service (FAS) will approve the merger within four months.
Vekselberg said the merger, which aims to produce over 11 million tons of primary aluminum a year, will conduct an IPO in London in 18 months.
"A final decision has yet to be made. We still have 18 months," he said. "The IPO is not an end in itself, but an instrument for further development."
He said under the listing requirements, 20% of the new company's stock will be floated.
He said the new company will control 12% of the world's primary aluminum market.
The Russian state has not sought to acquire a stake in the new company, RusAl owner Oleg Derispaska said.
