Nov. 23 (Bloomberg) -- Russian Billionaire Oleg Deripaska, whose United Co. Rusal is seeking to restructure more than $14 billion of debt, is in talks with potential investors in his construction, airport and financial-services businesses.

“We see renewed interest towards some of our assets, including stakes in our businesses, from a growing number of investors from Russia, China, Singapore, the United Arab Emirates and western Europe,” Timur Supataev, head of investment at Deripaska’s Basic Element holding company, said in a Nov. 21 e-mailed response to questions from Bloomberg News. “We are in the middle of negotiations.”

Rusal, the world’s largest aluminum producer, plans an initial public offering in Hong Kong to help repay its borrowings. Deripaska, 41, last year gave up stakes in builder Hochtief AG and autoparts maker Magna International Inc. that were held as collateral by lenders as the value of his investments tumbled. He also cut his Rusal stake.

Basic Element seeks to maintain control of its assets, which are all poised to return to profit next year as the effect of the global financial crisis wanes, Supataev said.

“All companies generate stable revenues,” he said. “Many of them have already recovered from the crisis and are marginally profitable. We are not interested in selling shares in our businesses, let alone giving up control, at crisis-level prices.”

Russian Recovery

The economy of the world’s biggest energy producer is recovering as global demand for commodities supports exporters and local consumption rebounds. The record 10.9 percent economic contraction in the second quarter eased to 8.9 percent last quarter. Real disposable incomes posted the biggest jump in more than a year last month and retail sales gained from September.

“Some economic sectors attract investors because they have reached the bottom and one doesn’t have to be a financial guru to expect a steep recovery,” Supataev said. “With partners we intend to take advantage of the economic situation and get leading market positions by taking over distressed assets.”

On top of the talks with potential investors, Deripaska will extend an option to buy back 25 percent of Strabag SE, Austria’s biggest builder, until the end of 2010, Basic Element said in an e-mailed statement today. He will pay 45.9 million euros ($69 million) for the extension, Vienna-based Strabag said in a separate statement on its Web site.

Strabag Stake

Earlier today, Der Standard newspaper said Deripaska could afford to buy Strabag’s stake back from investors this year. Strabag declined to comment on the report.

Deripaska is also in talks to swap his stake in Samara- based aircraft maker Aviakor for shares in state-owned OAO United Aviation Corp., Yekaterina Pankova, a spokeswoman for Basic Element’s machinery division, said by phone today.

The holding company would get 0.2 percent of United Aviation for 75 percent of Aviakor, Kommersant reported Nov. 19. Basic Element would retain 10 percent of Aviakor, which makes the 52-seater AN-140 jet, the Moscow-based newspaper said.

Rusal’s IPO will “absolutely” proceed this year, the company’s Chairman Viktor Vekselberg said last week. Rusal plans to sell a 10 percent stake to investors in the offering.

To contact the reporter on this story: Yuriy Humber in Moscow at yhumber@bloomberg.net.

Last Updated: November 23, 2009 09:40 EST