Deals
Norilsk Offers $12 Billion to Rusal to Buy Back Stake
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OAO GMK Norilsk Nickel, the world’s biggest nickel producer, offered $12 billion to United Co. Rusal to buy back a 25 percent stake held by the aluminum company, as analysts said a deal could benefit both sides.
Norilsk’s institutional investors and shareholders indicated the move would be “the most efficient at the moment,” Norilsk said today in a statement. Moscow-based Rusal, headed by billionaire Oleg Deripaska, rebuffed the approach.