Alcoa
today announced that it has begun an offer to purchase the remaining 18 percent of the Belaya Kalitva (BKMPO) fabricated aluminium plant in
still held by shareholders following its acquisition from Rusal in January 2005.
A subsidiary of Alcoa, ZAO Prime Alum will offer shareholders 7.50 rubles a share (approximately 26 cents a share) to tender their shares between September 12 and October 12, 2005.
There are approximately 43 million shares of BKMPO held by minority shareholders. Alcoa holds an 82 percent supermajority position in the facility.
Alcoa purchased the plant, along with the Samara fabricating facility, to support its growth plans in the commercial transportation, aerospace, automotive and packaging markets to better serve customers in
Prime-Alum does not intend to make any additional offers for shares from minority shareholders after the conclusion of the tender offer.
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