Rusal is looking for support and money in China

Chinese Chinalco is considered one of the possible applicants for the purchase of UC Rusal shares, Vedomosti write. The transaction may take place in December as part of an IPO , which UC Rusal is going to conduct in Hong Kong.

Chinalco or its aluminum unit - Chalco (owns 41.82% of the shares) is proposed to take part in placement. On October 13, during the visit of Prime Minister Vladimir Putin, the UC Rusal and Chinalco Beijing may sign a cooperation agreement.

In total, UC Rusal intends to sell to investors about 10% of new shares, having received up to $ 3 billion for them. For comparison: Chalco capitalization (produces about 3 million tons of aluminum per year) is now 22.3 billion.

Chinalco is one of the largest metallurgical holdings in China. 100% of its shares belongs to the state. In addition to aluminum, the company produces copper and titanium, its financial indicators are not disclosed. The company has long been striving for foreign expansion.

The government has nothing against Chinese companies to buy small stakes in Russian strategic holdings, an official of the government apparatus admitted to the publication. A large strategic investor would help UC Rusal successfully conduct an IPO.

Problems, meanwhile, continue to pursue the company. The next foreign project UC Rusal was threatened - the Indonesia government said that it might begin to look for a new partner for the construction of a buxe -clanemer complex, which the Russian company was supposed to build with the local Antam.

The authorities are unhappy with the low pace of the project and have already begun negotiations with the Norwegian Norsk Hydro, Kommersant writes. The head of the Indonesia Investment Committee, Muhammad Latfi, quoted by Reuters, took UC Rusal a month to confirm the interest in the project and clarify the terms and possibilities of its implementation, otherwise all the agreements reached earlier will be terminated.

The Indonesian complex is already the fourth foreign project UC Rusal, with which the company has problems. The Boxito-Earth Complex Friguia in Guinea is trying to nationalize the local junta: in September, the court ordered the complex to return the complex to state property.

In addition, in April, the Government of Nigeria began an investigation into the privatization of the UC Rusal ALSCON plant, and in June the Black Berry government announced its intention to regain control of the Kombinat Aluminijuma Podgorica plant.