A Russian company has increased its shareholding in Windalco's parent entity, aluminium firm Rusal.
According to a report on Nasdaq's website, E N Plus Group has raised its stake in Rusal to 56.8% after completing an asset swap with Glencore.
This is part of a deal that has helped companies controlled by Russian tycoon Oleg Deripaska to ward off U.S. sanctions.
E N Plus Group and Glencore agreed in 2017 that Glencore would swap its 8.75% stake in Rusal for shares in E N Plus Group, an aluminium and hydropower group controlled by Mr. Deripaska, following E N Plus's initial public offering.
However, the deal was suspended in 2018 when the United States announced sanctions on Mr. Deripaska, Rusal, E N Plus and other companies in which he owns stakes, citing malign activities by Russia.