Reuters reported that Marubeni Corporation of Japan plans to raise its stake in Canada's Aluminerie Alouette to 13.33% from the current 6.67%.

As per report, Marubeni plans to spend JPY 14 billion to buy additional shares of the Quebec based aluminum producer which is 40% owned by Rio Tinto Alcan of Canada and 20% owned by Norway's Norsk Hydro.

Marubeni said that it will make an announcement on an additional stake purchase in the smelter at 0200 GMT.

(Sourced from Reuters)