Onexim sells 7% in RUSAL to Sual affiliate for $504 mln

MOSCOW, Aug 11 (PRIME) -- Russian billionaire Mikhail Prokhorov’s Onexim Group is selling a 7% stake in aluminum giant UC RUSAL to a company affiliated with Sual Partners of Viktor Vekselberg and Leonard Blavatnik for U.S. $503.9 million, RUSAL said in a statement Friday.

At present, Onexim holds 13.7% in RUSAL and Sual Partners has a 15.8% stake. As a result of the deal, Sual and its affiliate Zonoville Investments Ltd will control 22.8% in RUSAL in total.

Onexim’s stake in RUSAL will fall to 6.7% after the deal. The shares will be sold through Dimosenco Holdings Co.

In February, Onexim sold around 3.3% in RUSAL for around $240 million.

Oleg Deripaska’s En+ Group is the majority shareholder of RUSAL with a 48.13% stake. Amokenga Holdings, controlled by Swiss commodity trader Glencore, has 8.75%, the company’s management owns 0.25%, and free-float accounts for 13.37%.

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