UC Rusal Buys Norilsk Nickel Stake

UC Rusal, the world's largest aluminium and alumina producer, has completed its 25 percent acquisition plus one share stake in Norilsk Nickel, Russia's largest public metals and mining company.

Under the terms of the deal, private investment fund Onexim Group - which has a diversified portfolio of investments in the metals and mining sector - will receive a fourteen percent stake in UC RUSAL together with a cash component.

Onexim will also gain representation on the UC Rusal Board of Directors, which currently has four nominated candidates.

UC Rusal produces approximately 12 and 15 percent of global aluminium and alumina respectively.

Norilsk Nickel is the world's largest producer of nickel and palladium and one of the largest producers of platinum and copper.

By Ozge Ibrahim