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Guinea's government wants UC Rusal to share IPO's proceeds
26.01.2010 21:29
Guinea's government wants UC Rusal to share IPO's proceeds

Guinea is ready to sue UC Rusal for $860 million the company owes to the country, claims the government of the country. Mahmoud Thiam, minister of mines in the outgoing government, said Rusal didn't provide all the information concerning the upcoming IPO in Hong Kong, which contradicts the transparency rules.
      
      Unless the sides reach the agreement by September 2010, Guinea is expected to take over Rusal's assets located in the country.
      
      "Rusal has fully disclosed all relevant details regarding Guinea in its prospectus and has nothing new to add," a spokesperson for Rusal said. "The company does not believe that any resulting liabilities will materially affect the group's financial position or its operations as a whole.
      
      source:
      Russian Business


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