Tuesday, August 15, 2006
SUAL in talks with strategic investors; unclear whether transaction possible before float
SUAL in talks with strategic investors; unclear whether transaction possible before float
Story Russian aluminium group SUAL, is talking to strategic investors and a transaction could be imminent, Neue Zuercher Zeitung reported. Viktor Vekselberg, who controls the company, confirmed to the paper that he is prepared to share control of the firm to enable the expansion he believes is vital to the firm. Talks have commenced with strategic investors which could lead to a transaction shortly but would require state permission, the report continued.
It is unclear whether a transaction would be carried out before the impending flotation, the report added. Last Friday is was reported that SUAL will float at least 25% in UK via its newly-registered company Sual Limited, with UBS and JPMorgan Cazenove advising. SUAL is valued at around USD 4bn (EUR 3.139bn), the report concluded.
Source Neue Zuercher Zeitung
Value EUR 3,139m (estimated value)
Story Russian aluminium group SUAL, is talking to strategic investors and a transaction could be imminent, Neue Zuercher Zeitung reported. Viktor Vekselberg, who controls the company, confirmed to the paper that he is prepared to share control of the firm to enable the expansion he believes is vital to the firm. Talks have commenced with strategic investors which could lead to a transaction shortly but would require state permission, the report continued.
It is unclear whether a transaction would be carried out before the impending flotation, the report added. Last Friday is was reported that SUAL will float at least 25% in UK via its newly-registered company Sual Limited, with UBS and JPMorgan Cazenove advising. SUAL is valued at around USD 4bn (EUR 3.139bn), the report concluded.
Source Neue Zuercher Zeitung
Value EUR 3,139m (estimated value)
