03 June 2004 03:55
Paper: Berezovsky Claims 25% RusAl Stake
An attempt by Sibneft owner Roman Abramovich to exit Russian Aluminum is being hindered by his former business
partner Boris Berezovsky, who claims ownership of the 25 percent stake Abramovich is trying to sell, Vedomosti reported
Wednesday.
Last year Millhouse holding company sold half of a 50 percent stake in RusAl to Basic Element owner Oleg Deripaska,
who already held 50 percent of the aluminum giant.
The ownership structure of Millhouse -- the holding company for Sibneft, RusAl and other assets in the empire that
Abramovich and Berezovsky created in the nineties -- is unclear. But since Berezovksy went into exile in London in 2000,
it's been widely believed that Abramovich is in control.
But in an interview with Vedomosti, Berezovsky said he was the beneficiary of Millhouse's remaining 25 percent
stake in RusAl and that he disapproved of the sale. He claimed Abramovich had been conducting talks without his
knowledge or approval, and that he could appeal the transaction in court.
A source close to Abramovich told Vedomosti, however, that Berezovsky, together with his partner Badri
Patarkatsishvili, owned only 15 percent of RusAl.
The source said Millhouse's remaining 25 percent stake in RusAl could be sold to Deripaska by the end of the
month.
Spokesmen for both Rusal and Basic Element would not comment Wednesday.
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[The Moscow Times] |
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