Tosyali Seeks Stake in Montenegrin Aluminum Maker, Novosti Says

Tosyali Holding of Turkey is in talks to buy a stake in Kombinat Aluminijuma Podgorica AD (KAPG), a Montenegrin aluminum producer, through its local unit Toscelik Profil Ve Sac Endustrisi AS, Vecernje Novosti reported, citing unidentified people.

Tosyali is negotiating with Oleg Deripaska’s En+ Group Ltd. to buy its 29.36 percent stake in the aluminum plant and may soon settle on a price that could be “significantly” lower than the 40 million euros ($50 million) that it initially asked, the report said. Tosyali Holding bought in April a steel mill in Montenegro.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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