MOSCOW, March 31 The world's No.1 aluminium
producer, Russia's United Company RUSAL, said on Monday it
expected to complete a deal to buy a stake in Russian metals
group Norilsk Nickel (GMKN.MM) before the end of April.
"The deal (to buy the stake) will be closed within a month,
before the end of April, as it had been stipulated by an
agreement signed in November," a UC RUSAL spokeswoman said.
"The parties are finishing working with technical issues
necessary to implement the deal. Its basic parameters remain
unchanged," she said without giving more details.
UC RUSAL agreed in November to buy a 25 percent plus one
share stake in Norilsk (NKELyq.L), the world's top producer of
nickel and platinum group metal palladium from one of its main
owners, tycoon Mikhail Prokhorov.
Prokhorov agreed to receive an 11 percent stake in RUSAL and
an undisclosed cash consideration for his Norilsk stake.
UC RUSAL, formed through a merger of Russia's top aluminium
producer RUSAL with a minor domestic rival SUAL and some assets
belonging to commodities trader Glencore, has stated its
long-term intention to merge the two companies.
Norilsk is also considering a merger offer from iron and
steel firm Metalloinvest, owned by billionaire Alisher Usmanov.
(Reporting by Aleksandras Budrys; Editing by David Holmes)