United Co RUSAL OAO (RUSAL), a prominent Russian aluminium producer, signed an agreement to acquire a 50% equity stake in India-based Pioneer Aluminium Industries Limited. The transaction, valued at approximately USD 243.75 million (INR 20.7 billion), involves the purchase of shares from Penna Cement Industries Ltd and RESCOM Holdings. The acquisition is part of RUSAL’s strategic expansion into the Indian alumina manufacturing sector.

AZB & Partners is advising RUSAL on the deal, with legal experts Hardeep Sachdeva (Partner), Priyamvada Shenoy (Partner), Kamal Shanka (Partner), and Sagnik Chatterjee (Counsel) leading the advisory team.