21 Dec 2018
The U.S. decision to lift sanctions on Russia’s Rusal (0486.HK), the world’s top aluminium producer outside China, is widely seen as a Christmas present for the company, global consumers of its metal, and the Russian stock market.
But its co-owner and founder Oleg Deripaska will have mixed feelings, as the deal means giving up control of his prized aluminium empire and then seeing it return to business as usual while he remains blacklisted alongside drug lords.
It’s a challenge for Deripaska, once Russia’s richest man, as he has never before sold a major asset.
e started building his empire during the 1990s “aluminium wars” after the collapse of the Soviet Union, waging several battles with rivals.
– By Polina Devitt, Anastasia Lyrchikova, Katya Golubkova, Reuters, 20 December 2018.
Link to Reuters.
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