RusAl Will Keep Its Norilsk Stake

United Company RusAl will keep its 25 percent stake in Norilsk Nickel, billionaire owner Oleg Deripaska said.

"We have it, we won't sell it," Deripaska said Sunday at the Asia-Pacific Economic Cooperation forum.

In an interview with Vedomosti published Thursday, Norilsk CEO Vladimir Strzhalkovsky said he sought support from the government to buy RusAl's 25 percent stake.

Strzhalkovsky made the request to pre-empt banks that lent RusAl $4.5 billion from getting the stake after Deripaska's aluminum producer had used it as collateral, the newspaper said.

Deripaska also said he has found financing for a $700 million payment to Norilsk Nickel shareholder Mikhail Prokhorov. "There is money, there is," he said, declining to furnish more details.

The funds are part of the payment for a 25 percent stake in Norilsk Nickel that Prokhorov sold in April.