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Rusal grabs stake in Chinese trader
Edited by : AL CIRCLE
1 min read
Rusal, the world's top aluminum maker by output, has signed an agreement with Chinese corporation Norinco to acquire a 33% stake in its aluminum sales unit Shenzhen North Investments. The deal is expected to be closed on January 31, 2012 pending clearance from regulators.
The Russian aluminum giant has also entered into a shareholder agreement with Norinco that grants Rusal the right to appoint two directors to the board of Shenzhen North Investments.Rusal will also be entitled to name a vice-chairman of the board of supervisors, a deputy general manager and a deputy chief financial officer.
The Russian aluminum giant has also entered into a shareholder agreement with Norinco that grants Rusal the right to appoint two directors to the board of Shenzhen North Investments.Rusal will also be entitled to name a vice-chairman of the board of supervisors, a deputy general manager and a deputy chief financial officer.
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