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FACTBOX: Who is Oleg Deripaska?
February 22, 2009 / 3:14 PM / 9 years ago

FACTBOX: Who is Oleg Deripaska?

(Reuters) - United Company RUSAL CEO Oleg Deripaska, 41, said on Sunday he does not need financial help from the Russian state and hopes to find an agreement with creditors on restructuring debts in the next three to four months.

Here are some details about Deripaska:

RICH LIST:

* Russian magazine Finans, which publishes a rich list, was in 2008 the first to put metals magnate Oleg Deripaska on top, with $40 billion (28 billion pounds), ahead of Roman Abramovich. Deripaska also topped the Forbes list.

-- However, Deripaska saw his fortune plummet to $4.9 billion from $40 billion, according to Finans, and it now rates him the eighth-richest Russian.

LIFE DETAILS:

-- Deripaska was born in the city of Dzerzhinsk on January 2, 1968. In 1993 he graduated from the School of Physics at Moscow State University and three years later graduated from the School of Economics at Plekhanov Academy of Economics in Moscow.

-- After graduating he founded a small metals trading operation and established a foothold within the domestic metals industry.

-- Nearly all the profits from these operations were used to acquire the initial package of shares of the Sayanogorsk Aluminum Smelter, the nation’s third largest electrolysis plant in Eastern Siberia. He became director general of the plant in 1994. In 1997, the smelter became the core asset of Sibirsky Aluminum Group, the forerunner of Basic Element.

RUSAL:

-- In 2000 Deripaska became director general of Russian Aluminum (RUSAL), set up as a result of an amalgamation of aluminum smelters and alumina refineries owned and operated by shareholders in Sibirsky Aluminum and the major Russian oil company Sibneft.

-- In 2007 RUSAL, the world’s third largest aluminum producer, SUAL Group, one of the world’s top 10 aluminum producers, and Glencore International AG, the Swiss natural resources group, merged their assets to form United Company RUSAL, the world’s largest aluminum and alumina producer.

-- He also served as chairman of the supervisory board of Basic Element, a diversified investment company with 300,000 employees across Russia, Europe, Africa, Latin America and Australia.

FINANCIAL CRISIS:

* UC RUSAL announced in February a plan to cut 11 percent of its annual aluminum output, 30 percent of its alumina output and 5 percent of its staff. It appointed Pyotr Sinshinov as deputy to Deripaska to oversee the cost-cutting program.

* Deripaska has been in talks to restructure $7.5 billion of debt, including to Western banks.

* Deripaska received $4.5 billion last October in state help to refinance western loans that UC RUSAL used to buy a one-quarter stake in Norilsk Nickel.

Sources: Reuters/www.world-aluminum-market.com

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