September 05, 2006 |
|Aluminum giant SUAL Group (RTS: SUAL) has announced the buyout of minority shareholders of its subsidiary, the Siberian-Urals Aluminum Company (OAO SUAL), the company said Tuesday. |
The buyout price has been set at 29.9 rubles ($1.1) per ordinary registered share.
The buyout, to be completed by the end of 2006, aims to consolidate SUAL's assets and improve corporate governance.
One of the world's top 10 aluminum companies, SUAL has enterprises in nine Russian regions and in Ukraine, and annually mines over 5.4 million metric tons of bauxite, some 2.3 mln metric tons of alumina, over 1 mln tons of primary aluminum, and about 60,000 metric tons of silicon.
It also manufactures aluminum products, including foil, wire, and wheel rims, and exports 80% of its production.
|Full company name||open joint stock company SUAL|
|Country of risk||Russia|
|Country of registration||Russia|