Rus News Journal

En + it is ready to buy Bosnian Aluminij Mostar

Holding En + in which Oleg Deripaska`s actives are concentrated, has decided to make a competition to world aluminium companies Alcoa and Alcan in the tender on sale of 88 % of actions of Bosnian industrial complex Aluminij Mostar. En + declared that is going to submit the corresponding demand. Aluminij Mostar buys raw materials from company Eurallumina which will be included into the incorporated company the Russian aluminium . In case of a victory in future En + can sell to it Aluminij Mostar and other actives on the Balkans.
as have told yesterday in the company the Base element holding En + (in it Oleg Deripaska`s power and aluminium actives which part will be transferred in " are concentrated; the Russian aluminium created Rusalom SUALom and Glencore) plans to make an application on participation in the tender on sale of Bosnian aluminium company Aluminij Mostar. The agency on privatisation of Bosnia and Herzegovina has exposed on advertised bidding of 88 % of its actions on March, 5th. Half of papers belongs to federation of Bosnia and Herzegovina, another - to employees of the company. The starting price of a package - 76,84 million

In Aluminij Mostar enter factory on manufacture of anodes both primary aluminium and foundry. In 2006 - 134,5 thousand tons of aluminium products, a gain - 288 million

As have informed sales volume in agency on privatisation, application forms for participation in the tender are accepted till April, 23rd. The winner who will be declared in the beginning of July, it is planned to choose on a number of criteria: the greatest price, parametres investment and business - plans, volume of the previous and future cooperation. Last criterion gives En + certain advantages before potential competitors in which number the agency names American Alcoa, Canadian Alcan and Norwegian Hydro Aluminium. The matter is that, according to the agency, Aluminij Mostar imports alumina from factory Glencore in Sardinia . At Glencore there is only one factory - Eurallumina, which trader should transfer in the Russian aluminium .

Itself the Russian aluminium cannot participate directly in the transaction, as process of association of actives Rusala SUALa and Glencore it is not finished yet. Other actives En + on the Balkans it was not planned to transfer at all in the incorporated company, they remained Oleg Deripaska`s independent business. These are 65,4 % of actions Kombinat Aluminijuma Podgorica (Montenegro), thermal power station Pljevlja and coal company Rudnik uglja. If they have been transferred in the incorporated company, Rusal would receive more than 66 % that hardly would arrange its partners. However, earlier the general director Rusala Alexander Bulygin said that in the future the incorporated company can redeem actives belonging to them at the shareholders. thus the Balkan actives En + will sell at the market price - analyst IK " considers; Metropol Denis Nushtaev.