Mumbai: Russia's top aluminum producer RUSAL will take over rival SUAL and the aluminum assets of Swiss commodities trading house Glencore to create a world leader worth around $30 billion.

The deal, to be finalised in October, would give shape to the world's number one aluminum producer with output of 4-million tonnes per year, and the top alumina producer with output of 11-million tonnes.

RUSAL is currently the world's third-largest aluminum producer after Alcoa of the US and Alcan of Canada.

Under the deal, RUSAL would own 64.5 per cent of the new firm, SUAL 21.5 per cent and Glencore 14 per cent, investment bankers said without giving the details.

Glencore has alumina refining assets, including the Auqhinish refinery in Ireland, which it owns outright, and Windalco and Alpart in Jamaica, where it has 93 and 65 per cent respectively. It will also contribute its 44 per cent stake in the Eurallumina refinery in Italy and its wholly owned Kubikenborg Aluminum AB aluminum smelter in Sweden.

RUSAL produced 2.8-million tonnes of aluminium last year, while SUAL produced 1.1 million tonnes. RUSAL plans to raise capacity to 5-million tonnes by 2013 and SUAL to 2.2-million tonnes by 2012.

The takeover marks the culmination of Russia's "aluminium wars" and the crowning of the young Oleg Deripaska as the country's undisputed aluminum king.

Deripaska, Russia's sixth-richest man with assets worth $9 billion, is also related by marriage to former president Boris Yeltsin.

RUSAL chief executive Alexander Bulygin would run the combined company with SUAL chief Brian Gilbertson taking over as head the new entity.

The new company would be listed on the London Stock Exchange within three years under a non-binding agreement signed by the three parties.