RUSAL board approves reregistration of firm in Russia

MOSCOW, Nov 6 (PRIME) -- The board of directors of aluminum giant UC RUSAL has decided to remove the company from registration in Jersey and reregister it as an international company in Russia, according to the company’s statement released on the Hong Kong Stock Exchange on Monday.

Hit by the U.S. sanctions, RUSAL said in August it started a process of changing its jurisdiction and becoming a resident of one of Russia’s special administrative regions.

A government source said in June that RUSAL could become a resident of one of the special administrative regions that will be created the Russky Island near Vladivostok and in the Oktyabrsky Island near Kaliningrad.

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