The stake of multi-industry holding En+ Group in the Russian aluminum giant UC RUSAL has grown to 56.88% following the closure of an asset swap with Swiss trader Glencore, En+ Group said in a statement on February 3.
“The company announces conclusion of the second stage of the agreement on a swap of securities with some subsidiaries of Glencore plc. As a result, the company’s share in United Company RUSAL plc rose to 56.88%,” the company said.
Under the first stage of the deal, En+ acquired a 2% stake in RUSAL from an affiliate of Glencore in February 2019, raising its stake to 50.12%. According to the website of the aluminum producer, its other large shareholder is SUAL Partners Limited and its subsidiaries with a 26.50% stake. (Prime/Ukrainian metal)