Russian magnate Oleg Deripaska to quit roles at Rusal and En+ Group
Moscow — Russian billionaire Oleg Deripaska plans to step down as the president of the two companies he controls — aluminium giant Rusal and En+ Group, two sources familiar with the matter say. The change comes less than a month after the inclusion of Deripaska and dozens of Russian billionaires on a US government list of Russian oligarchs. While it is not a sanctions list, Western banks may be reluctant to deal with Russian companies whose owners are on the list. En+ has invited international banks to pitch for the sale of $1bn of shares in the company, three sources said last week. However, the inclusion of Deripaska on the US list is making some US banks who worked with En+ on its initial public offering in November wary about participating this time, one of the sources said. Deripaska’s En+ owns assets in metals and energy, including a 48% stake in Rusal, a Hong Kong-listed Russian aluminium producer, which is a big consumer of hydroelectricity produced by En+’s power companies....
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