OREANDA-NEWS. The RUSAL company, one of the three world leaders for the production of aluminum and alloys, have announced a successful completion of talks with creditors to approve the merger with SUAL and Glencore.

RUSAL creditors have officially approved their go-ahead to change RUSAL’s ownership structure. In particular, in the future company RUSAL will have 66 percent of stock, SUAL 22 percent and Glencore 12 percent. 

The merger will lead to a rise in net debts and temporal change in RUSAL financial indicators, something RUSAL shareholders also agreed on. The approval was needed due to credit agreements worth $2.5 billion.

As a result of the merger, the new united company will become the largest producer of aluminum and alumina in the world. Its total workforce worldwide will number 110,000 employees in 17 countries on 5 continents. Its annual production of aluminum and alumina will rise to 4 million tons of aluminum and 11 million tons of alumina. After integration, the company will have a 12.5 percent share on the markets of primary aluminum and 16 percent on the markets of alumina.