A power play inside of Russian Aluminum (RusAl), one of the world's largest aluminum production companies, may be underway, which could result in the return to power of Michael Cherney who previously controlled the large metals corporation. In 2001, Cherney issued an option to buy his 20% share in Russian Aluminum to Oleg Deripaska, the company's current majority shareholder owner.
Cherney moved to Israel where he is an active businessman and philanthropist. He made his fortune in the global metals markets. According to recent media reports, Deripaska intends to acquire another 25% of the company from Sibneft, which holds stock in RusAl and belongs to the Russian billionaire Roman
Abramovich. Yet Deripaska has still not settled his account with Cherney, according to sources close to the Russian-Israeli. Although he has not paid in full for these shares yet, Deripaska has told industry insiders that Cherney no longer retains any interest in RusAl. Sources close to Cherney sharply counter that "such statements contradict the facts." They further speculate that if Deripaska does not pay Cherney in full in the near future, Cherney may either reclaim his 20% share in RusAl and return to a powerfully active role in the international aluminum business, or consider selling his stock to another party.
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