Media reported about a possible merger of UC Rusal and EuroSibEnergo

The company En+ Oleg Deripaska’s thinking about the merger of UC Rusal and EuroSibEnergo. About this newspaper “Vedomosti”, citing sources close to different shareholders of UC Rusal. Also this was reported by an employee of the creditor Bank and metallurgical company.

One of the sources said that the company is exploring many different options, among which is the merger of UC Rusal and EuroSibEnergo. “While each only calculated,” said the source. UC Rusal representative said that the merging is not discussed and not studied.

As said a top Manager of one of the banks, the creditors of UC Rusal may not approve the merger. The debt load of the company at the end of last year amounted to 2.7 EBITDA, the newspaper said, citing a report metallurgical company. In connection with the deterioration of the market for the year this figure may be higher than 3.5. Then UC Rusal will be forced again to pay the bankers all the money is higher than the average monthly balance of $300 million.

On 18 July it became known that the structure of said Kerimov Ravenwing Ltd sent to the group ONEXIM Mikhail Prokhorov’s offer to purchase of 17.02% stake in UC Rusal.