The London International Arbitration Court will consider opposing suits from the world's largest aluminum producer RusAl, and Interros investment firm, who are seeking damages over previously agreed management principles for Norilsk Nickel, in which both firms are major shareholdersl, Vedomosti business daily reported on Monday.
The paper quoted two sources close to the companies as saying RusAl estimates the damage to its interests at over $1.5 billion, while one source told the paper both firms want $200 million compensation.
Interros and RusAl declined to comment.
Interros, owner of about 30% in Norilsk Nickel, and RusAl, owner of 25%, have long been fighting for control over the mining company. RusAl says the Norilsk board has become dominated by officials linked with Interros after a June AGM, when RusAl lost one board seat, while Interros increased its representation.
At a recent extraordinary shareholders' meeting, Interros gained four seats on the board, while RusAl and Norilsk management, regarded as being close to Interros, got two seats each. RusAl's nominee chairs the board.
MOSCOW, April 11 (RIA Novosti)
