Deals
Rusal Value May Jump 50% on Norilsk Stake Sale, Prokhorov Says
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United Co. Rusal, the world’s largest aluminum maker, should sell its 25 percent stake in OAO GMK Norilsk Nickel to offload debt and unlock value, said billionaire shareholder Mikhail Prokhorov.
“As soon as Rusal sells the stake in Norilsk, you’ll have a minimum 50 percent rise” in the market value of the aluminum company, said Prokhorov in an interview on Bloomberg Television today. Rusal, valued at about HK$180 billion ($23 billion) based on prices in Hong Kong today, could rise to as much as $35 billion, according to Prokhorov, who owns a 17 percent stake.