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. Last Updated: 07/27/2016

RusAl Expects Norilsk Deal by End of April

United Company RusAl, the world's No.1 aluminum producer, said on Monday that it expected to complete a deal to buy a stake in the metals group Norilsk Nickel before the end of April.

"The deal [to buy the stake] will be closed within a month, before the end of April, as it had been stipulated by an agreement signed in November," a RusAl spokeswoman said.

"The parties are finishing working with technical issues necessary to implement the deal. Its basic parameters remain unchanged," she said without giving more details.

RusAl agreed in November to buy a stake of 25 percent plus one share in Norilsk, the world's top producer of nickel and platinum group metal palladium from one of its main owners, tycoon Mikhail Prokhorov.

Prokhorov agreed to receive an 11 percent stake in RusAl and an undisclosed cash consideration for his Norilsk stake.

United Company RusAl, formed through a merger of the country's top aluminum producer Russian Aluminum with domestic rival SUAL and some assets belonging to commodities trader Glencore, has stated its long-term intention to merge the two companies.

Norilsk is also considering a merger offer from iron and steel firm Metalloinvest, owned by billionaire Alisher Usmanov.