Balaton Power Inc BPWRF

Rusal Sale to Alcoa May Be Finalized In...

[gotrupees]

Rusal Sale to Alcoa May Be Finalized In a Month MOSCOW (Mineweb.com) John Helmer 05-JAN-05 10:00 The controversial sale of Russia's principal aluminum rolling-mills to the US producer Alcoa, which has drawn opposition from Russia's defence establishment, may be finalized in a month, according to an announcement by Alcoa. On December 31, Alcoa posted a statement on its website say "it has received final approvals from the Government of the Russian Federation to proceed with its purchase of Russia's controlling interests in two fabricating facilites in Samara and Belaya Kalitva in the Russian Federation....With the final government approvals in place, Alcoa and Rusal are taking the necessary steps to complete the transaction. Terms of the transaction will be disclosed when the deal has been completed, which is expected at the end of January 2005." The Federal Anti-Monopoly Service (FAS) had the responsibility in Moscow for reviewing the deal, which Alcoa and Rusal first announced on May 6, but then failed to implement as they had anticipated. In most major foreign takeovers of Russian assets, the FAS typically recommends approval, while other cabinet ministries either cast vetoes, or recommend conditions and changes in deal terms.......... www.mineweb.net/columns/emerging_russia/401958.htm *** Any thoughts on the significance of this approval to our Balaton interests? Getbalaton!