A group of international banks that last year backed Rusal’s acquisition of a stake in Norilsk Nickel are pushing for the holding to be sold if its value hits $7.5bn (€5.3bn), as the Russian miner comes under increasing pressure from its lenders to restructure billions of dollars in outstanding debt.

Eleven banks, including Goldman Sachs and Morgan Stanley, lent Rusal $4.5bn in April 2008 to buy a 25% stake in Norilsk Nickel and now want to include a clause in a restructuring agreement that would press the company to sell the holding if it reaches this valuation, according to Russian business daily Vedomosti.