SUAL Partners filed a lawsuit against the board of directors of UC Rusal for 74 billion rubles. – Kommersant

Viktor Vekselberg’s SUAL Partners has filed a lawsuit against the board of directors of UC Rusal in the amount of 74 billion rubles. I paid attention to the case in the filing cabinet RBC. According to the press service of SUAL Partners, the claim is related to losses on hedging transactions.

Sual Partners controls 25.72% of UC Rusal. The holding asked to provide data on aluminum price hedging transactions in 2021-2022. However, the shareholders of UC Rusal in early August rejected this is a requirement.

The refusal was explained by the confidential nature of the data, the provision of which could harm the company. At the same time, the holding promised to protect the rights of shareholders and the company by all available means in case of violations.

“These transactions (hedges), completed with numerous violations, led to huge losses,” said SUAL Partners. Earlier, the head of the holding, Oleg Fomichev, complained about the “unreasonable discrimination regime.” As a result of metal hedging transactions, Rusal suffered a loss of $378 million in 2021, and $382 million in 2022.

Earlier in an interview “b” Oleg Fomichev spoke about his intention to file a lawsuit, since SUAL Partners was dissatisfied with a number of UC Rusal deals, including an increase in the stake in RusHydro to 9%, as well as the refusal of dividends. Oleg Fomichev admitted that the management is acting in the interests of the majority shareholder represented by En+. Because of the sanctions, according to Oleg Fomichev, the company may not be interested in receiving dividends from it.

Anastasia Larina