| Other Photos |
 |
|
 |
Vekselberg Joins Usmanov-Potanin Alliance
Renova owner Viktor Vekselberg has responded to the proposal by Alisher Usmanov and Vladimir Potanin to create the world’s largest mining and smelting company, Reuters reports. Potanin’s Interros and the Gallagher company, controlled by Usmanov, reached an agreement to form the world’s largest international mining and smelting company on May 28.
The parties decided to unite their forces to invest in the development of the mining industry in Russia and abroad, with the perspective of forming a world leading company in the sector within five years. The volume of investment expected in $50-60 billion. Gallagher has announced it intention to acquire 10 percent of the shares in Norilsk Nickel, and Interros will acquire 25 percent plus one share in the capital of the Metalloinvest holding, which is also controlled by Usmanov.
Negotiations on those mergers have been put on hold while Metalloinvest prepares for an IPO. But Potanin and Usmanov have already invited Oleg Deripaska, owner of the controlling package in Rusal, a major aluminum producer, to join the alliance as well. If the shareholders in the aluminum company agree to it, they will discuss uniting around Norilsk.
www.kommersant.com
|
|
|
