10 June 2004 08:55
BASIC ELEMENT MAY BUY IRKUTSKENERGO STAKE
MOSCOW. June 10 (Interfax) - Basic Element Chairman of the Board Oleg Deripaska does not rule out that his company
may buy the state stake in Irkutskenergo if it is sold at an open auction.
He said that the results of a closed auction would be difficult to predict.
First Deputy Economic Development and Trade Minister Andrei
Sharonov told Interfax earlier that the Russian government is
Deripaska told journalists on Thursday that in this case a business approach would be of most significance.
Shareholders in Basic Element will buy the stake if it will be profitable, he said.
OAO Irkutskenergo is the third largest energy producer in Russia
and is one of the few energy companies that is not part of the UES
He did not say what price Basic Element would be ready to pay for the state stake in Irkutskenergo, but said that the
company's shares are quoted and there value has increased almost three-fold in the past year.
The state owns a 40% stake in Irkutskenergo, SUAL and shareholders
in Russian Aluminum, which is part of Basic Element, own up to 50% -
considering selling the state stake in Irkutskenergo. He said that this question was discussed at a meeting with
Deputy Prime Minister Alexander Zhukov on June 2.
Deripaska also confirmed that Basic Element shareholders own less than 1% in UES.
holding company.
over 10% and 30% respectively.
[Interfax] |
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