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Prokhorov's man joins UC RUSAL board

13.05.2008

MOSCOW, May 13 (Reuters) - Dmitry Razumov, chief executive of Russian billionaire Mikhail Prokhorov's Onexim Group, has joined the board of the world's top aluminium producer, United Company RUSAL, UC RUSAL said on Tuesday.

Razumov's appointment is part of the deal in which Prokhorov sold UC RUSAL his 25-plus-one-share stake in Norilsk Nickel (GMKN.MM: Quote, Profile, Research, Stock Buzz) (NKELyq.L: Quote, Profile, Research, Stock Buzz), the world's largest producer of nickel and platinum group metal palladium.

Under the deal, Prokhorov received a 14 percent stake in UC RUSAL and an undisclosed sum in cash in exchange for the stake.

Razumov will become the 13th member of UC RUSAL's board.

UC RUSAL, controlled by Russia's richest man, Oleg Deripaska, was founded last year through a merger of Russia's top aluminium producer RUSAL with smaller domestic rival SUAL and assets belonging to commodities trader Glencore. (Reporting by Aleksandras Budrys)


Source: Reuters

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