Rusal continues fight for Norilsk Nickel
Russian aluminium major Rusal will continue its attempt to swallow global nickel major number one Norilsk Nickel, the company confirms.
A merger is “in the interests of all shareholders,” Rusal chief executive Alexander Bulygin said in e-mailed answers to questions, the Moscow Times reports with reference to Bloomberg. He said that the two combined companies can become the leader in metals and mining in 10 years whould the merger be completed within a year. Rusal on Thursday bought 25 percent of Norilsk from Onexim Group, an investment company controlled by billionaire Mikhail Prokhorov. Prokhorov’s Onexim received 14 percent of RusAl in return for the shares it sold in Norilsk. His investment company also got 7 billion USD in cash, Kommersant reported on Friday, citing unidentified bankers familiar with the transaction.
