Emirates Global Aluminium eyes Bosnia's indebted Aluminij
Emirates Global Aluminium (EGA) has expressed interest in Bosnia’s debt-laden aluminium smelter Aluminij Mostar, Bosnia’s regional energy and mining minister said on Thursday. Bosnia’s sole aluminium smelter on Wednesday threatened it would halt production on 6 July unless the government of Bosnia’s autonomous Bosniak-Croat Federation, helps it stay afloat. It has been in trouble for years over debt accumulated because of high alumina and electricity prices. EGA will now asses Aluminij’s value, said Nermin Dzindic, the Federation energy and mining minister, before it starts talks with Aluminij’s shareholders about a possible takeover. Aluminij is 44% owned by the Federation government, with small shareholders holding another 44% and the Croatian government the remainder.
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