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VSMPO Buyout Offer Planned

The owners of VSMPO-Avisma, the world's largest titanium company, will offer to acquire its free float from minority shareholders, business daily Kommersant reported on Monday.

The company's chief executive, Mikhail Voyevodin, was quoted as saying management would offer to buy out VSMPO-Avisma's 10 percent free float for $187 per share in the second half of May. The company's shares last closed at $180.

A VSMPO representative was not immediately available to comment.

The company was bought last year by a joint venture between its management and Gazprombank.

(Reuters)

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