25 May 2004 11:19
Interros plans gradual stake reduction in OMZ-Power Machines
The controlling stock interest in Power Machines belongs to
Interros, its partners and companies that act in concordance with
MOSCOW. May 25 (Interfax) - The holding company Interros plans to gradually reduce its stake in OMZ-Power Machines
over the next five to seven years, Interros president Vladimir Potanin told the press.
The second task is finding a point of contact with the government in
building nuclear machinery and, in the event agreement is struck,
Interros interests. OMZ-Power Machines' development strategy breaks down to four tasks, Potanin said. The first
is seeking out a strategic partner for non- nuclear power machine-building and transferring control over this business
to the partner, while Interros reduces its stake.
maintaining its role as junior partner.
Third is "separating military subjects from the company, since that interferes with business transparency,"
Potanin said. He identified as a possible application of this strategy "Kaluga Turbine Plant," by way of
example.
Spinning off non-core business is another strategic task, Potanin said.
United Heavy Machinery (OMZ) and Power Machines are effecting a merger of equals. The latter's shareholders are
receiving 50% of the OMZ stock, while OMZ acquires 100% of the Power Machines stock. [RU EUROPE EEU ASIA EMRG MAC ENR
CORA ELG AER MRG STX] cf
[Interfax] |
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