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Norilsk Plan Considered

By The Moscow Times

United Company RusAl chairman Viktor Vekselberg is considering a plan to sell RusAl's 25 percent stake in Norilsk Nickel back to the nickel producer, two people with knowledge of the matter said.

Vekselberg is seeking to discuss with other RusAl owners a proposal that an offer of about $18 billion from Norilsk would guarantee a transaction, the people said, declining to be identified as the talks are private. Vekselberg has yet to gain support from RusAl's largest single shareholder, Oleg Deripaska, and may not proceed with the plan, one of the people said.

The proposed $18 billion price tag represents a 23 percent premium to Norilsk's previous $8.75 billion bid for a 15 percent stake, rebuffed by RusAl this month.

(Bloomberg)

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