Vekselberg is chairman of closely held Renova Group. The Nassau, Bahamas-based investment company controls stakes in publicly traded Swiss equipment makers Sulzer and Oerlikon, and United Co. Rusal, the world's biggest aluminum producer. He also controls Integrated Energy Systems, Russia's largest private power supply company. He sold a 12.5 percent stake in TNK-BP for $7 billion.
United Co. Rusal slid the most in a week in Moscow after Victor Vekselberg resigned as chairman of the world’s largest aluminum producer, saying the company controlled by billionaire Oleg Deripaska is facing a “deep crisis.”
OAO Rosneftegaz, a Russian state-run holding of which President Vladimir Putin’s ally Igor Sechin is chairman, may buy power assets from billionaire Victor Vekselberg’s ZAO Integrated Energy Systems, Vedomosti reported, citing industry officials it didn’t identify.
OAO Gazprom and Russian billionaire Victor Vekselberg scrapped the plan to merge their power assets after failing to agree on price, Vedomosti reported, citing unidentified people familiar with the matter.