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Glencore, Hindalco bid for $105 million Bosnia plant

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Bloomberg Corporate
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.
 
 
 

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First Published: Apr 27 2007 | 12:00 AM IST

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