LONDON, Jan 26 (Reuters) - The Guinean government has asked that part of the proceeds from the flotation of Russia's UC Rusal go towards clearing damages it says it is owed by the world's biggest aluminium producer, according to the Financial Times.
The paper said in its Tuesday edition that the government in the West African state wrote to the Hong Kong stock exchange earlier this month to say that its claims, reportedly $860 million, were "materially important" to any potential investors in the $2.2 billion offering.
A Guinean court ruled in September that the sale of the Frigua refinery to Rusal in 2006 was illegal and that the firm was charged significantly less than the plant's true value. The minister of mines, Mahmoud Thiam, told the FT a lack of settlement could affect the value of Rusal's stock.
"Subscribers should know that, barring a settlement with Guinea, the value of the Rusal stock they acquire might very well be overstated," he said.
The paper cited Rusal as saying it had nothing new to add on the Guinea situation and that it had disclosed all relevant details.
"The company does not believe that any resulting liabilities will materially affect the group's financial position or its operations as a whole," a spokesperson was quoted as saying.
Rusal could not be immediately reached for comment by Reuters.
(Reporting by Victoria Bryan; Editing by Phil Berlowitz)
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