The U.S. Court for the Southern District of New York has approved aluminum producer Rusal's motion to dismiss a lawsuit brought against the company last year by BFI Group, Rusal said in a statement posted on its Web site Monday.
The suit was in connection with the company's acquisition of a majority stake in the Aluminum Smelter Company of Nigeria, or Alscon. The deal closed on Feb. 27.
BFI had also bid for Alscon and had alleged procedural violations. The lawsuit was dismissed on grounds that New York was not the appropriate court forum for BFI Group's claim, according to Rusal.
"We plan to continue the development of our business in Nigeria and look forward to the expected relaunch of Alscon by the end of 2007," said a prepared statement from Rusal.
Rusal said last month that the transaction would add almost 150,000 metric tons annual to the company's aluminum-production capacity. Rusal received a 77.5% block of shares in Alscon, a 193,000-metric ton smelter, a port on the Imo River and a power-generating station.
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