ONEXIM and UC RUSAL have finalized the deal.
Press-release
United Company RUSAL and ONEXIM Group have finalised the deal on the strategic equity stake in MMC Norilsk Nickel
Moscow, April 24,2008
United Company RUSAL and ONEXIM Group announce they have finalised the deal, in which RUSAL acquired 25% plus one share of MMC Norilsk Nickel from ONEXIM Group.
According to the terms of the deal ONEXIM Group gets 14% of RUSAL shares and cash. A representative of ONEXIM Group will join the Board of Directors of RUSAL. The shares of other RUSAL shareholders will change proportionally.
About The Company
United Company Rusal is the leader of the world aluminium industry. It exports products to clients in 70 countries worldwide. The company accounts for approximately 12% and 15% of global production of aluminium and alumina respectively. The company was founded in March 2007 through the merger of RUSAL, SUAL, and the alumina assets of Glencore. UC RUSAL employs 100,000 people in 19 countries, across 5 continents.
ONEXIM Group is a private investment fund with over 25 billion USD of assets and a diversified portfolio of investments in the metals and mining sector, energy sector, including hydrogen and nanotechnology, financial services, media and real estate sectors.
MMC Norilsk Nickel is the largest public metals and mining company in Russia and the world's largest producer of nickel and palladium, and one of the world's largest producers of platinum and copper. The company has its production assets in Russia, Australia, Botswana, Finland, South Africa and the United States. The shares of MMC Norilsk Nickel are traded on MICEX and RTS in Russia, and the company’s ADRs are traded in London, New York and Berlin.