May 2, 2018 / 5:06 PM / 4 months ago

Chairman of En+ says actively working on reducing Deripaska stake

MOSCOW, May 2 (Reuters) - The board chairman of En+ Group , Lord Barker of Battle, said on Wednesday he was working on implementing a plan which the company hopes will lead to the United States to lift sanctions recently imposed on the Russian aluminium producer.

The comments come after a decision by the United States on Tuesday to give investors an additional month to divest or transfer their holdings in the company.

“In my capacity as independent chairman, I reached an agreement in principle with (En+ shareholder) Oleg Deripaska on 26 April 2018 that in order for sanctions to be removed he would reduce his shareholding below 50 percent and relinquish control of the Board,” he said in a statement.

“In light of this very welcomed licence extension, I am now actively seeking to put the details of that plan into place.” (Reporting by Polina Ivanova; Editing by David Evans)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below