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U.S. Signals Deripaska Should Cut EN+ Stake to 40% Range, Source Says

  • Treasury has set path for relief from Russia sanctions
  • Sanctions on En+, Rusal have disrupted aluminum supply chain
Oleg Deripaska

Oleg Deripaska

Photographer: Simon Dawson/Bloomberg
Updated on

The U.S. Treasury Department has indicated it may allow Russian oligarch Oleg Deripaska to keep his ownership of En+ Group Plc in the mid-40 percent range under a deal that would spare the company from sanctions, a person familiar with the matter said.

While Treasury hasn’t provided a specific target for Deripaska’s holding it had generally signaled his stake would need to be meaningfully below 50 percent, said the person, who spoke on condition of anonymity. Deripaska currently owns about 66 percent of the company, according to an En+ annual report.