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| EU approves acquisition of Glencore, Sual assets by EN+ The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Glencore's and Sual's aluminium assets by Russian holding company EN+. The Commission said that the operation would not significantly impede effective competition in the European Economic Area (EEA). The EN+ group has interests in several sectors and owns Rusal, a vertically-integrated aluminium and alumina company, whose principal production assets are in Russia. The assets of Glencore International AG (Switzerland) to be acquired by EN+ comprise Jamaican bauxite mines and various alumina refineries in Ireland, Jamaica and Italy, together with one aluminium smelter in Sweden. The assets of Sual International (Russia) to be acquired by EN+ are involved in all stages of the aluminium production process, and are based in Russia and in Ukraine. The proposed transaction would result in the creation of UC Rusal, an intermediate holding company between EN+ and its current subsidiary Rusal, which would take over the assets of Glencore and Sual. write your comments about the article :: © 2007 Construction News :: home page |