Russian aluminum giant Rusal is poised to become the world’s largest aluminum producer, having coordinated a deal to buy domestic rival Susal Group and the alumina assets of Swiss commodity trader and miner Glencore International.
The combination, due to be officially announced soon, will result in a $30 billion conglomerate that would seek an initial public offering on the London Stock Exchange.
As reported by the Sunday Times, Sual`s CEO will become non-executive chairman of the enlarged Rusal, which will have the capacity to make 4.4 million tonnes of aluminum annually, compared to 3.6 million tonnes that Pittsburgh-based Alcoa (AA-N) produced last year.
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