The mega merger between Russia's two aluminium producers—RusAl and SUAL—and the aluminium interests of Swiss trade house Glencore is slowly rolling towards completion.
The latest step came with yesterday's official green light from Russia's Federal Antimonopoly Service. It had previously signalled provisional approval for the deal, which will create an entity commanding a 12.5% share of global aluminium and a 16% share of global alumina production.
"Today's announcement by the FAS is of great significance, supporting the creation of Russia's first transnational corporation and the new leader of the global aluminium industry," said Alexander Bulygin, RusAl chief executive. "We are now ready to round off the merger and plan to close the deal in the near future."
The merger has already been formally approved by the European Commission.
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