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. Last Updated: 07/27/2016

Kazakhs Suggest Aluminum Share Swap




PAVLODAR, Kazakhstan -- Kazakh aluminum firms may swap shares with Russian counterparts who want to secure their supplies of Kazakh alumina, the chief executive of Alyuminii Kazakhstana said Monday.


"Russians are displaying great interest in the shares of Alyuminii Kazakhstana," Almaz Ibragimov said at the firm's main production unit at Pavlodar.


"They want to take up part of the shares of AO Alymunii Kazakhstana in exchange for shares in a Russian aluminum plant."


The precise amount of the stake involved was not determined, he added.


London-based metals trader Trans-World Group owns 56.48 percent of the charter capital of Alyuminii Kazakhstana through a subsidiary, Whiteswan. But the Kazakh government, which owns 31.68 percent of the company, imposed new management in January during a still outstanding legal battle with TWG.