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Russia Moves on Plan to Meld Metals Titans
Keywords:
Tags: Metals / Mining, Russia,
Russia's largest companies in metals like nickel, iron ore and aluminium, may end up in state control by the end of the year as the government is loaning money to these companies. These companies owe billions of dollars to state controlled banks and foreign banks and are heavily in debt. This would be a reversal of something that started with the loans for shares under which tycoons like Potanin got control of state assets in metals companies, in exchange for loans to the state. A company that will combine the assets of Norilsk Nickel, UC Rusal, and OAO Metalloinvest is being formed, with the state taking alarge minority stake at the initial stage.
Rusal and Deripaska.
01/16/2009
Russian industrialist Deripaska retains most of his holdings after the financial crisis with help from President Putin.
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