Oleg Deripaska, owner of Russia’s biggest aluminium maker, has acquired a stake in General Motors of just under 5 per cent, say two people with direct knowledge of the matter. The Russian tycoon’s stake in the world’s largest car company, worth more than $900m at Tuesday’s share price, is said to be a personal investment and unrelated to Gaz, the vehicle manufacturer he controls. Mr Deripaska, named Russia’s second-richest man by Forbes magazine, acquired the shares last year. The GM stake is a “strategic investment” and unrelated to Basic Element [Mr Deripaska’s holding company],” said one of the two.

This entry was posted by Gwen Robinson on Wednesday, August 8th, 2007 at 5:46 and is filed under Capital markets, M&A, People. Tagged with Basic Element, Gaz, gm, oleg deripaska. Edit this entry.