Ukraine Opens Bids for Majority in Aluminum Maker, Paper Says

Moscow, Sept. 7 -- Ukraine's Property Fund opened bids for a 68 percent stake in VAT Zaporizhskyi Aliuminievyi Kombinat, the country's monopoly aluminum maker, Vedomosti said.

The Property Fund set $30.3 million starting price for the majority stake in the company, which can produce 260,000 metric tons of alumina and 100,000 tons of aluminum a year, the paper said. The auction winner will be chosen on Nov. 30.

About 10 companies, including Ukrainsky Alyuminiy, which is affiliated with OAO Russky Alyuminiy, a company whose subsidiaries control 70 percent of Russia's aluminum assets, are interested in buying the Ukrainian producer, Vedomosti said.

Last month, Ukrainian papers reported that Kaiser Aluminum Corp., the
second-biggest U.S. aluminum maker, also may bid for the stake in
Zaporizhskyi.