25 May 2004 01:53
RusAl proposes higher price for Alpart stake
MOSCOW. May 25 (Interfax) - Russian Aluminum, a world leader in the production of primary aluminum, has announced an
increase in its offer for a 65% stake in the Jamaican company Alpart owned by Kaiser Aluminum by $10 million to $316.2
million.
RusAl said in a press release that the offer will come into effect if Hydro Aluminum Jamaica, the owner of 35% of
Alpart, decides to avail of its priority right to acquire the shares, which expires on May 26, 2004.
RusAl is challenging this right in the Delaware bankruptcy court in the U.S.
In a letter to Kaiser Aluminum, RusAl again confirmed its readiness to buy the Alpart shares "at this price
without additional financial or other obligations," the press release said. [RU EUROPE ASIA EEU EMRG ALU STX JM] rd
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[Interfax] |
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