Nigeria's supreme court ruled that former state-owned Aluminium Smelter Company of Nigeria (ALSCON) should have been sold to a U.S.-based firm, not to Russia's RUSAL, but RUSAL said it remained the owner.
RUSAL, the world's largest aluminium producer, acquired the controlling stake in ALSCON in 2007 and now owns 85 percent of its assets, including an aluminium smelter with annual capacity of 120,000 tonnes, with the remaining stake belonging to the Nigerian government.
The court ruling document, seen by Reuters, said RUSAL paid $205 million for a 75 percent stake in ALSCON in 2007.