Deripaska will reduce its stake in En+ to below 50%

MOSCOW, April 27. /TASS/. Oleg Deripaska has agreed to cut stake in En+ Group is below 50%, says the company.

“After a series of negotiations with the Chairman of the Board of Directors of the company independent Director Lord Barker Oleg Deripaska, in General, agreed with the request of the Chairman of the Board of Directors to reduce its stake in the company to below 50%”, – stated in the message.

Deripaska also agreed with the proposal to leave the Board of Directors of En+ Group and approved the appointment of new members to the Board of Directors to increase the number of independent Directors.

En+ is also reported that on April 26 sent to the U.S. Treasury that made it to the sanctions list, a formal request for extension of the period transactions with the company until 31 October 2018.

Without the request for the listing of the company on the London stock exchange (LSE) will be provided a significant effect, says En+.

“The company continues to work to protect the interests of its investors, including minority shareholders”, – stated in the message.

USA on April 23 announced that it is ready to lift sanctions against other companies, large which co-owner is Oleg Deripaska – RUSAL, if a businessman would give up a part of the assets from the control of “RUSAL”, which was one of the most affected by the sanctions of the assets.