Rusal Readies for Billionaire Shoot Out Over Norilsk Nickel
- Rusal is making preparations for a possible forced auction
- Deripaska, Potanin are embroiled in a dispute over Nornickel
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United Co. Rusal is readying for a potential shoot out deal for MMC Norilsk Nickel PJSC that could resolve a dispute between billionaire shareholders going back to the last decade.
Rusal released a statement on Friday laying out certain steps it could take in the event of a shoot out, a type of forced auction in which the losing bidder must sell his stake to the winner. The Russian aluminum maker controlled by Oleg Deripaska is embroiled in a legal fight with Vladimir Potanin’s Interros Holding Co. over a potential sale of shares in Norilsk Nickel.