Basic Element buys 25% stake in Russian Aluminum

03.10.2003 03:43

The Russian investment management company Basic Element has increased its share in the Russian aluminum producer RusAl to 75 percent after purchasing another 25-percent stake in RusAl from Sibneft stockholders. Financial terms of the deal are kept a secret, the RusAl press service reported. Sibneft stockholders will withdraw from RusAl's board of directors and will be replaced by representatives of Basic Element.

RusAl was established in March 2000 as a result of mergers of the CIS' major aluminum and steel works. RusAl accounts for 75 percent of Russia's primary aluminum production.

&to=http://www.basicelement.ru/be/kbe.nsf/epages/einv_strategy1.html' target=_blank>Basic Element

Subscribe to Pravda.Ru Telegram channel, Facebook, RSS!

Author`s name Editorial Team

Overloaded Russian cargo ships explodes and sinks in Mediterranean Sea

Russian cargo ship Ursa Major sank in the Mediterranean Sea off the coast of Spain and Algeria. The accident took place on December 23 in international waters between the Spanish Aguilas and the Algerian Oran

Russian cargo ship explodes and sinks in Mediterranean Sea

Viktor Orban names two scenarios for conflict in Ukraine to end

Hungarian Prime Minister gives two scenarios for Ukraine conflict to end

Russian soldier puts North Korean machine gun to the test and says he does not like it

Trump team decides to abandon EU and NATO allies to seek protection against Oreshnik IRBM