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Russian Machines cashing out of Magna International as lender calls security


Russian magnate Oleg Deripaska is being forced to cash out his 20 million shares in Canadian-based auto parts maker Magna International Inc. (TSX:MG.A).Deripaska-controlled OJSC Russian Machines had taken the interest in Magna for US$1.54 billion last year, as Magna founder Frank Stronach surrendered part of his previously ironclad control of the 82,000-employee company.

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