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. Last Updated: 07/27/2016

Deripaska on Norilsk Stake

Billionaire Oleg Deripaska’s United Company RusAl will not sell its 25 percent stake in Norilsk Nickel for less than it paid, Deripaska said in an interview with Vedomosti published Monday.

Deripaska’s Basic Element holding, struggling to repay and restructure as much as $20 billion of loans, expects to be debt-free in four to five years, Deripaska said. BasEl may consider selling a stake in oil producer Russneft to cut debt, while it rules out selling the Ingosstrakh insurance company, he said.

Deripaska’s automaker GAZ has no plans “so far” to get a stake in Opel if a joint bid by Magna International and Sberbank wins, he said.

(Bloomberg)