Source Pravda.Ru

Russia's antitrust regulator approves deal creating world's biggest aluminum maker

Russia's anti-monopoly regulator has approved a three-way merger that would create the world's biggest aluminum producer, the Federal Antimonopoly Service said in a joint statement with the company leading the deal Wednesday.

The tie-up will see OAO Rusal, Russia's biggest aluminum producer, absorb rival Sual as well as the aluminum assets of Swiss-based commodities trader Glencore, creating a global giant with smelters and refineries across Russia and facilities on four continents.

"We have made a decision in principle to approve of the deal and within two weeks we plan to complete the paperwork related to our final conclusion," the head of the Federal Antimonopoly Service, Igor Artyemyev, said in the statement.

"This move will strengthen Russia's role as a fully fledged participant in international economic integration and encourage growth of its influence on the global market," he said.

Russian regulatory approval had been anticipated, but the deal, which was announced in October, remains to be approved by antitrust bodies in other jurisdictions including the European Union, reports AP.

Company officials have said they hope the deal will be completed by April.

Under the terms of the agreement, Rusal will issue new shares to acquire Sual, which is controlled by metals and oil tycoon Viktor Vekselberg, as well as the Glencore assets.

Sual and Glencore will hold 22 percent and 12 percent stakes respectively in the new company, a US$30 billion (Ђ23 billion) giant that will produce nearly 4 million tons of aluminum per year, or about 12 percent of global output.

Russian Foreign Minister Sergei Lavrov said at a briefing in Beijing that the question about the shipment of S-300 anti-aircraft missile systems to Syria had not been resolved yet. However, Syrian Ambassador to Russia Riyad Haddad said that S-300 missile systems had been delivered to Syria last month

Israel can learn many lessons with the help of Russia's S-300 air defence systems in Syria

Representatives of the Israeli Defence Ministry responded to recent reports about the possible delivery of S-300 SAM systems from Russia to Syria. Israeli Defence Minister Avigdor Lieberman said that Israel would destroy those systems

Israel vows to destroy Russia's S-300 in Syria in case of danger
Comments
Putin: Russia's young scientists build world's most powerful arms system in 7 years
Putin: Russia's young scientists build world's most powerful arms system in 7 years
Putin: Russia's young scientists build world's most powerful arms system in 7 years
Russia to deliver S-300 air defence systems to Syria for free
Putin: Russia's young scientists build world's most powerful arms system in 7 years
Putin: Russia's young scientists build world's most powerful arms system in 7 years
Putin: Russia's young scientists build world's most powerful arms system in 7 years
Putin to sign new decree to spend ten trillion rubles on social needs
Russia's S-300 systems against Tomahawk missiles flying towards Syria
World War Three is near? The West wants to bypass Russia's veto at UN Security Council
Israel vows to destroy Russia's S-300 in Syria in case of danger
Ukraine loses nearly 4,000 military men killing fellow Ukrainians in Donbass
World War Three is near? The West wants to bypass Russia's veto at UN Security Council
Putin: Russia's young scientists build world's most powerful arms system in 7 years
Russia and China warn against 'chaos and war' on Korean Peninsula
Large lake of boiling water found on Mars
Chernobyl could have killed 40,000 people
Silk Road To Germany: New Molotov-Ribbentrop-Mao Pact
Putin: Russia's young scientists build world's most powerful arms system in 7 years
Israel vows to destroy Russia's S-300 in Syria in case of danger
Russia wants to be prepared for most severe sanctions that Washington is working on