Russian Billionaire Buys Aluminij Mostar

Russian Billionaire Buys Aluminij MostarRussian En+holding company announced it is planning the purchase of 88 percent share in Aluminij Mostar (Aluminim Mostar).

The company`s owner is Russian billionaire Oleg Deripaska, and he will compete with Alcoa and Alcan companies in the purchase tender, the Poslovni dnevnik daily writes.

Profit of 288 million dollars

Price of the 88 percent share in Aluminij Mostar is 76,84 euro. Aluminij Mostar owns a foundry, anode and primary aluminium manufacturing factory.

In 2006, the company recorded a profit of 288 million dollars and is one of the most stable companies in Bosnia-Herzegovina.

Tender is open until April 23, and the State Agency for Privatisation will select the purchaser in June, according to several criteria, like: price, proposed investments and business plans, and previous and future co-operation.