Nornickel & Rusal plan possible merger to fend off sanctions
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Update time : 2022-07-07 21:36:47
Vladimir Potanin, the main shareholder of Russia’s Norilsk Nickel (Nornickel), said that he is planning a possible merger between Nornickel and aluminum giant Rusal, which could strengthen their defenses against any possible sanctions imposed by Western countries.
The merger of the two companies would create a global base metals giant with combined revenue of US$30 billion.
Potanin said that the two sides now are ready to reconsider the merger idea again, under the following consideration. First, both Nornickel and Rusal have a green agenda. Second, the merger can diversify the shareholder base and increase stability amid Western sanctions. Third, the merged company will be easier to obtain support from the Russian state development program.
