Vekselberg hopes to close RUSAL stake purchase soon

MOSCOW, Oct 25 (PRIME) -- Russian tycoon Viktor Vekselberg expects that acquisition of a stake in aluminum giant UC RUSAL from Mikhail Prokhorov’s Onexim Group will be closed soon, he told Rossiya 24 television channel on Tuesday.

At present, Sual Partners, controlled by Vekselberg and partners, holds 15.8% in RUSAL, while Onexim owns 17%, and businessman Oleg Deripaska’s En+ Group has 48.13%.

“I hope (it will be closed) soon,” he said declining to provide the value of the deal and confirming interest in buying RUSAL shares.

“We want to increase our stake. It is reasonable, it is natural, we are with this company from the very beginning, we believe in this company. We see its big potential.”

Business daily Vedomosti reported earlier in October that Sual Partners may buy 12% in RUSAL from Prokhorov for less than U.S. $750 million and has already borrowed $350 million for the deal from Sberbank. Onexim will keep a 5% stake. Kommersant business daily reported that Vekselberg is ready to buy 17% in Onexim for around $1 billion.

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