FD lands Rusal merger role

Russian metal-producing leviathan Rusal has brought in Financial Dynamics to help steer it through a three-way merger to create the world's largest aluminium firm.

The new company is to comprise Rusal's biggest Russian rival, Sual, as well as Swiss-based commodities trader Glencore.

FD is the only agency involved in the deal. The merger is awaiting regulatory approval but should be completed by next April.

The company is ‘likely' to become the latest Russian firm to join the London stock market according to Sual CEO Viktor Vekselberg.

Senior V-P Jon Simmons heads an FD M&A team working on the account.

Consolidation within the metals industry has been good news for City agencies this year, with three of the five biggest-ever metals mergers announced in 2006.

At the beginning of the year Mittal Steel used Maitland to spearhead its takeover of rival Arcelor SA (PRWeek, 3 Feb), while Aura Financial was used for Swiss mining conglomerate Xstrata's takeover battle with Canadian nickel-miner Falconbridge.

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