The Rusal-Sual-Glencore aluminium merger in jeopardy
In October after months of negotiations Russian aluminium producers Rusal and Sual signed a merger agreement with Switzerland’s Glencore. Under the deal, which still needs approval from the Federal Anti-Monopoly Service, Rusal will hold 66% of the new company, Sual will take 22%. Glencore holds 12%.
Sual's Vekselberg said the new venture would be able to produce 4 million tonnes of Aluminium, and 11 million tonnes of Alumina.