Norilsk Nickel is to create a committee of three independent directors to assess and scrutinise its transactions, it has been announced.

The committee, which will operate within the existing board of directors, will consist of Guy de Selliers, who is installed as Chairman, Heinz Schimmelbusch and Vladimir Dolgikh.

Mr Selliers' committee will be charged principally with reviewing "possible transactions concerning the company's shares, which may influence the company's and its shareholders' interests", a statement from the diversified miner said.

News of the deal comes after it was last month announced that Rusal is to acquire a stake in Norilsk from the Mikhail Prokhorov-owned Onexim Group.

The transaction is being interpreted as a step toward Rusal owner Oleg Deripaska mounting a takeover bid for Norilsk.

Previously, Vladimir Potanin opted not to exercise his right to purchase a 25 per cent stake in Norilsk for $15.7 billion.

Source:

The Board of Directors of MMC Norilsk Nickel created a new committee, 27/12/07
http://www.nornik.ru/en/press/news/2245/

Rusal Poised To Get Norilsk Nickel, 21/12/07
http://www.forbes.com/markets/2007/12/20/norilsk-nickel-rusal-markets-equity-cx_vr_1220markets05.html

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