Business

Regulator allows RusAl to buy 29% stake in Norilsk Nickel

21:59 31/01/2008

MOSCOW, January 31 (RIA Novosti) - Russia's anti-monopoly watchdog said on Thursday it had allowed aluminum giant UC RusAl to buy a stake of 29% plus 1 voting share in Norilsk Nickel.

RusAl filed a bid to buy the stake in the world's largest nickel producer on December 19, 2007.

The banks ABN AMRO, BNP Paribas, Credit Suisse and Merrill Lynch launched on Wednesday syndication of a $4.5 billion loan for RusAl so that the aluminum giant could buy 25% plus 1 voting share from billionaire Mikhail Prokhorov's Onexim Group.

Prokhorov and his former business partner Mikhail Potanin, the two major owners of Norilsk Nickel, are currently dividing the business. Prokhorov holds a 28.2% in the company, and Potanin owns another 25.3%. Each of the two businessmen owns 4% in the company through KM Invest.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/business/20080131/98117554.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/business/20080131/98117554.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Regulator allows RusAl to buy 29% stake in Norilsk Nickel</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">21:59</span> <span style="color:#5590bf; padding-right:7px;">31/01/2008</span> <span style="font-size:12px;">Russia's anti-monopoly watchdog said on Thursday it had allowed aluminum giant UC RusAl to buy a stake of 29% plus 1 voting share in Norilsk Nickel. <a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/business/20080131/98117554.html" title="Regulator allows RusAl to buy 29% stake in Norilsk Nickel">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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Regulator allows RusAl to buy 29% stake in Norilsk Nickel

21:59 31/01/2008 Russia's anti-monopoly watchdog said on Thursday it had allowed aluminum giant UC RusAl to buy a stake of 29% plus 1 voting share in Norilsk Nickel. >>

Other news of the day