En+ Considers Move to Russia's New Offshore Zone
En+ Group, hit by U.S. sanctions against Russia in April, said on Thursday it was investigating the possibility of re-domiciling from Britain's Jersey to one of Russia's new offshore zones.London-listed En+ Group, which manages the energy and aluminium businesses of Oleg Deripaska, was one of eight companies with ties to the Russian tycoon to be placed on a U.S. Treasury blacklist in April.
Glencore Suspends Rusal-EN+ Share Swap due U.S. Sanctions
Swiss-based trader Glencore said on Tuesday it would not "at this time" be swapping its shares in Russian aluminium producer Rusal for Global Depository Receipts in EN+ due to U.S. sanctions on both firms. Foreign partners of Russian firms like Rusal, which was hit by new U.S. sanctions on Friday, have a narrow window to ensure they are compliant with the new regulations that generally prohibit U.S.
Russian Tycoon Deripaska's En+ Considers IPO in 2017
En+ Group, a holding company for Russian tycoon Oleg Deripaska's assets, is considering conducting an initial public offering in 2017, two banking sources and one industry source told Reuters on Thursday. En+ holds assets in metals and mining, energy and coal, including a 48 percent stake in Rusal, a Hong Kong-listed Russian aluminium producer, which in turn owns a stake in a mining giant Nornickel.
Russneft Founder Quits as Company President
Russian businessman Mikhail Gutseriyev has left as head of mid-sized oil producer Russneft, which he founded in the early 2000s, the company said in a financial statement late on Friday. Gutseriyev has had a turbulent few years, including fleeing to London in 2007 after being accused of tax fraud and seeing his son die in mysterious circumstances. He also agreed to sell Russneft to aluminium billionaire Oleg Deripaska…
