Russian company prepares to bid for RTB Bor

Russian company prepares to bid for RTB Bor

The company operates within the Basic Element Holding owned by Russian aluminum magnate Oleg Deripaska, who visited Belgrade on July 20 to meet with Prime Minister Vojislav Koštunica.

Another Moscow newspaper, RBK Daily, quoted its sources in the Basic Element about the company’s intentions to partake in the new RTB Bor tender.

“Bearing in mind the ongoing political climate, the Russian company has a very good chance of wining,” the daily speculates.

Minister of Economy and Regional Development Mlađan Dinkić confirmed Tuesday that new tender for the sale of RTB Bor will be announced on August 31, with the starting price of US$ 340mn.

Kommersant reminded that SoyuzMetallResource took part in the previous tender, won by Romanian Cuprom, a deal later cancelled as Cuprom failed to submit financial guarantees for the acquisition within the set deadline.

Zenit Bank’s analyst Igor Nuzhdin told the newspaper that a company such as RTB Bor can pull in up to EUR 1bn in revenues a year, which accounts for Basic Element’s interest in the deal.

The Russian company has recently bought Podgorica-based aluminum KAP in Montenegro, the daily also reminded.