Norilsk Owners Said to Head Into $1 Billion Arbitration
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Russian billionaire Vladimir Potanin and Oleg Deripaska’s United Co. Rusal are heading toward a more than $1 billion arbitration case as they battle over rights at OAO GMK Norilsk Nickel, according to four people with knowledge of talks.
Potanin and Deripaska are negotiating the terms of a new shareholder agreement and success may spur Rusal to withdraw its claim that the previous accord was breached, the people said, asking not to be identified because the issue is private. Hearings by a London panel open Dec. 3, they said.