The main owner of Rusal Oleg Deripaska will retain control over Nikolaev Aluminum Works, which it has sold to Glencore.
Deripaska’s En+ Group concluded a non-binding agreement with Glencore to exchange the Swiss corporation 8.75% of Rusal shares (through Amokenga Holdings Ltd) for En+ shares (owns 48.13% in Rusal).
The parties agreed that Glencore would receive En+ papers after their IPO and would introduce its CEO Ivan Glasenberg to the En+ board of directors. (Ukrainian metal)