Russian tycoon to sell 7% stake in HK-listed Rusal for $504m

Russian tycoon to sell 7% stake in HK-listed Rusal for $504m

Oleg Deripaska, owner of United Co. Rusal. Photo: Bloomberg

Russian aluminium giant Rusal said tycoon Mikhail Prokhorov has agreed to sell around a 7 percent stake to billionaire Viktor Vekselberg for $503.9 million, concluding lengthy negotiations over a sale.

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