(AFX) - Russian aluminium producer Rusal said its creditors have approved its plans to merge with fellow Russian Sual International and Switzerland's Glencore International AG.
'Rusal has been given official affirmation from its creditors for the change in the shareholding structure of the company,' said Rusal in a statement, reports Trend.
The combined company, which will be the world's largest aluminium maker, will be owned 66 pct by Rusal, 22 pct by Sual and 12 pct by Glencore.
The support of the creditors is crucial for Rusal in securing a 2.5 bln usd loan to back the three-way union.