UC Rusal is considering selling about USD 1 billion worth of non core assets, including its foil business in Russia.
BCS financial group analysts said that other assets that could be sold include stakes in the Alscon aluminium smelter in Nigeria and the Bogatyr coal company in Kazakhstan.
Rusal has been struggling to manage USD 10.3 billion of net debt due to a slump in aluminium prices amid a supply glut stoked by huge production growth in China. The Russian firm recently finalised a refinancing deal with creditors, buying time to turn itself around.
The company is considering several options related to its non-core assets, but no decisions have been taken yet.
Source – Reuters