RPT-EU approves Russian joint control of Magna

Newswire

Repeats to wider audience BRUSSELS, Aug 30 (Reuters) - A firm controlled by Russian billionaire Oleg Deripaska won permission from the European Commission on Thursday to take a stake in Canadian auto parts supplier Magna International Inc. . The $1.54 billion investment from Derispaska is aimed at expansion in the fast-growing Russian auto market. The complicated deal would give Deripaska and Magna founder Frank Stronach joint control of the diversified auto supplier through a new ...

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