SPAC, a former Rusal executive, agrees to buy two Brazilian mines, Volkswagen and Glencore, for $1 billion. FAP, ACG Acquisition Co, a blank check company owned by Artem Volynets, a former senior executive of Rusal. Agreed to buy two mines in Brazil for $1 billion, including debt, to meet the needs of electric car makers. Volkswagen's battery division will make an advance payment of $100 million for future nickel deliveries to support the deal. Meanwhile, commodities trader Glencore will buy $100m of ACG shares. Glencore will buy some nickel from ACG for its refineries in Western Europe and North America, according to a statement on Monday.