UC RUSAL and Kazakh state holding finalize deal

RBC, 24.12.2008, Moscow --UC RUSAL has completed a deal on the sale of a 50-percent stake in a joint venture on coal production at Ekibastuz coal deposit to Samruk-Energo, Kazakh state welfare fund Samruk-Kazyna's subsidiary, the press office of the Russian aluminum company reported today. UC RUSAL earlier announced that it would sell its stake in the joint venture to the Kazakh company for $345m. The cost of assets was determined by independent experts from Deutsche Bank. As part of the joint venture between UC RUSAL and Samruk Holding, the two companies plan to produce and supply coal to Kazakhstan and Russia. Coal production is estimated at 46m tonnes per year in 2008, a record-high for the last 10 years.