RusAl's Recent Moves: IPO & Merger To Come?

May 2008 | IPO Analysis

A Russian mining merger may be even closer after United Company RusAl completed its purchase of a 25% stake in Norilsk Nickel on April 25. The 25% stake was bought from Onexim Group, which is controlled by Mikhail Prokorov. In return, Onexim received 14% of RusAl and an unspecified cash sum. RusAl Chief Executive Alexander Bulygin has stated that a merger would be in the interest of all shareholders.

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