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UC RUSAL Mulls $2B Share Sale

UC RUSAL is mulling to sell shares worth between $1.5 billion and $2 billion.

UC RUSAL is mulling to sell shares worth between $1.5 billion and $2 billion, Reuters reports. The Russian aluminum group is seeking to sell a stake of between 7% and 10% as part of its long-term debt repayment plan.

The company, controlled by Russian tycoon Oleg Deripaska, raised $2.2 billion in a Hong Kong initial public offering (IPO) in January 2010 to repay debt. The company has also entered an agreement with banks for a new $5 billion loan.

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Click here for additional coverage from Bloomberg.

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