RUSAL, a leading global aluminum supplier in Russia, has inked an agreement with India's Pioneer Group and KCap Group to acquire up to 50% of India’s Pioneer Aluminium Industries Limited in three stages, starting with a 26% stake for US$243.75 million plus adjustments for the company’s net working capital and debt. All following phases of the transaction will be paid pro rata.
Pioneer operates a 1.5 million-ton-per-year alumina refining plant in Andhra Pradesh, with potential expansion to 2 million tons.
RUSAL and the sellers, Pioneer and KCap, will supply bauxite and receive alumina in proportion to their stakes.
RUSAL to acquire up to 50% stakes of India’s Pioneer Aluminium Industries
18 Mar 2025 15:58 reported by Joy Liu
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