MOSCOW (Pakistan Point News / Sputnik - 17th August, 2018) The board of directors at Russias aluminum producer Rusal met this week to discuss moving the firms legal residence to Russia from the UK-dependent island of Jersey, the firm said Friday.
"The Board carefully considered an opportunity for the Company to effect a potential change of domicile of the Company from Jersey to the Russian Federation," the press release read.
Rusal said so-called redomiciliation was proposed in the wake of new Russian laws on international companies and special administrative regions, effective August 3.
The board said that registration in Russia appeared to be in the best interests of the company and its shareholders, who will be consulted on the move alongside relevant authorities and creditors.
