Rusal may sell Norilsk stake for $12-15 billion: report

MOSCOW (BestGrowthStock) – The world’s top aluminum producer UC RUSAL (0486.HK: ) will eventually sell a blocking stake in Russia’s metal giant Norilsk Nickel (GMKN.MM: ) for $12 billion to $15 billion, Rusal’s co-owner told Vedomosti daily.

“They will agree on the price between $12 billion and $15 billion, I think,” Mikhail Prokhorov, Russia’s tycoon and the head of Onexim group, told the business daily in an interview, published on Monday.

Earlier in December Norilsk Nickel said it had offered UC RUSAL $12 billion for its 25 percent stake in Norilsk.

UC RUSAL, majority owned by tycoon Oleg Deripaska, has repeatedly said the stake was not for sale.

(Writing by Andrey Ostroukh; Editing by Jon Loades-Carter)

Rusal may sell Norilsk stake for $12-15 billion: report