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Rusal To Examine Norilsk's Proposed $12.8B Buy Of Norilsk Stake
Feb 14,2011 09:33CST
industry news
Source:SMM

MOSCOW, Feb 14 -- United Co. Rusal PLC (0486.HK) said Friday it will "examine and discuss" OAO Norilsk Nickel's (GMKN.RS) offer to purchase most of Rusal's stake in Norilsk.

Norilsk said earlier in the day it offered to buy 20% of Norilsk from Rusal for $12.8 billion, which would leave the aluminum giant with a 5% stake in the world's largest nickel producer.

A committee at Rusal's board will study Norilsk's offer, and the board will consider its recommendations, the company said.

Rusal declined Norilsk's offer to buy its full stake in the company for $14 billion at the end of December.

 

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