Basic Element has applied to the Federal Anti-Monopoly Service to acquire a controlling stake in RussNeft

Subject to FAS approval, RussNeft will be part of Basic Element's En+.  Among the other companies that make up En+ are UC RUSAL, the second largest aluminium producer in the world, Eurosibenergo, Central European Aluminium Company and United Oil Group, the oil production and refining company. 

 

According to Russian law, the anti-monopoly service should make a decision on Basel's application within one month.

 

 

The consolidated revenue of the Group’s portfolio businesses exceeded $18 billion in 2006. Its combined asset value was more than $23 billion. The Group employs 240,000 people. Companies in the Basic Element Group are located in Russia and the CIS, as well as in Africa, Australia, Asia, Europe and Latin America.