Wednesday, November 23, 2011

Nickel: Ceasefire in Norilsk

For the next few years by the table in any case, a merger with Rusal
and heavily indebted to the metal group Metalloinvest the world's
largest metallurgical company.
Moscow (est). About half a year, the world's largest nickel and
palladium producer, "Norilsk Nickel" buffeted by an irreconcilable
conflict between the principal owners. Now they have apparently agreed
to a constructive interaction. As Russia's Oleg Deripaska and Vladimir
Potanin top magnates (owns 29.9 per cent) on Tuesday announced that
they will lead the Group in future parity. For this purpose, four are
representatives of both sides - three independent directors and a
representative of the state - to move into the executive council.
The aim of the agreement is there, the group again on its feet.
Finally, the market capitalization of the Group by 4.5-fold to $ 13.53
billion was broken into. The devaluation had resulted in Deripaska's
Rusal had aluminum monopolist, who had purchased in April, the
blocking minority at "Norilsk Nickel", collateralize the loan taken