Glencore, Hindalco bid for $105 million Bosnia plant

Glencore International, the world's largest commodities trader, Hindalco Industries, which bought Novelis, and Vedanta Resources are among bidders for a stake in Aluminij d.d. Mostar that's worth at least 76.8 million euro ($105 million).

Eight companies have submitted non-binding bids for Mostar, the largest aluminum smelter in the Balkans, Ivica Kresic, of Deloitte Consulting Services said in a telephone interview from Croatia today.

Hindalco's Kumar Mangalam Birla is competing with Glencore and Vedanta's Anil Agarwal to acquire metal companies to benefit from a global rally in prices.

Agarwal beat Birla on April 24 to acquire 51 per cent stake in Sesa Goa.

Russian billionaire Oleg Deripaska, owner of the world's third-largest aluminum maker, is also competing for Mostar, which produced 121,000 tonne of the metal last year and had sales of 240 million euro.

Deripaska's En+ holding company, which owns OAO Russian Aluminium

and two separate aluminum assets in Montenegro, and Mytilineos Aluminium

de Greece have also for the asset.