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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Nalco open to equity dilution in $3.9 bln project in Indonesia

Posted on 02 September 2010

From Business-standard.com: State-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium project in Indonesia in lieu of acquiring equity in coal mines in the island country. Nalco holds 76 per cent stake in the Indonesian project, while RAK Minerals & Metals Investments, a unit of RAK Investment Authority, holds 24 per cent.
“We are open to selling stake in the aluminium project to the firm, which offers us its coal mines. In return, we will acquire stake in the coal mine offered to us,” Nalco Director Finance B L Bagra said……………………………………….Full Article: Source


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