RusHydro is considering exchanging some of its assets for between 30 percent and 35 percent stake in Russian electricity firm EuroSibEnergo, Reuters reports. The Russian hydroelectric power giant is intending to acquire EuroSibEnergo shares before the firm goes for an initial public offering (IPO). The buyer seeks to close the deal with Russian oligarch Oleg Deripask–controlled company before the listing. Following the listing, RusHydro’s stake in EuroSibEnergo will decrease and Deripaska’s energy group EN+ will retain a controlling stake.
Click here for the story from Reuters.