25 Nov 2021 16:49

Hong Kong Exchange's examination of Rusal spin-off planned, won't impede deal

MOSCOW. Nov 25 (Interfax) - The Hong Kong Stock Exchange's examination of the proposed demerger of high-carbon assets by UC Rusal is part of a planned dialog between the aluminum giant and the regulator and will not impeded the transaction, Oleg Mukhamedshin, deputy general director for strategy and capital markets at En+ Group and director for strategy and investor relations at Rusal, told Interfax.

"We are in dialog with the Hong Kong exchange, this is planned dialog. We see no obstacles," he said.

Mukhamedshin said he did not expect the demerger to take place before the middle of next year. The new company will not be listed before the second half of 2022.

Mukhamedshin said Rusal had not seen the letter from the hedge fund Odey, which had triggered the exchange's examination of the demerger.

Commenting on the Fund's idea regarding a buyout of Rusal minority shareholders following the demerger, he said: "It's hard to say. It's too soon to talk about it, we have to go a certain way."