Economics
How Deripaska's Deal Means Cutting Stake But Keeping Influence
- Tycoon’s stake in En+ Group will fall from 70% to 45%
- Some of his shares will be transfered to Russian bank VTB
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The U.S. Treasury unveiled a long-awaited deal to lift sanctions on the world’s second-largest aluminum producer after Russian tycoon Oleg Deripaska agreed to loosen his control of the company.
But how will the deal work? And will Deripaska fully relinquish control?