Russia’s Federal Antimonopoly Service approves UC RUSAL’s acquisition of a 25% plus one share stake in Norilsk Nickel from ONEXIM Group

UC RUSAL yesterday welcomed the decision by Russia's Federal Antimonopoly Service (FAS) to grant clearance for UC RUSAL to acquire a 25% plus one share interest in MMC Norilsk Nickel from ONEXIM Group.

Notification of the approval was announced by FAS on 31 January 2008.

“Today's decision by the FAS is of great significance for our transaction. This development supports the creation of Russia’s first global diversified metals and mining corporation. Our ambitious diversification strategy will see the company join the ranks of the world’s top five metals and mining giants,” said Alexander Bulygin, CEO, UC RUSAL. “We plan to complete the deal in the near future”.

The agreement for UC RUSAL to purchase a 25% plus one share interest in MMC Norilsk Nickel from ONEXIM Group was signed in November 2007. The transaction is the first step by UC RUSAL to become Russia’s first global diversified metals and mining corporation.