Inter RAO hunts for investors

first_imgThursday 20 January 2011 7:23 pm whatsapp Tags: NULL whatsapp INTER RAO could seek a strategic investor for a 25 per cent stake and may also consider share swaps as it continues to grow, the Russian state-controlled group’s head Boris Kovalchuk said yesterday.The electricity generator and power trader is being used by Russia as a home for billions of dollars of assets as the government seeks to create a consolidated power generation giant with ambitious plans abroad.Inter RAO, which boasts influential deputy Prime Minister Igor Sechin as head of its board, said last month it would raise cash via a rights issue to buy the assets worth $9bn-$15bn (£5.6bn-£9.4bn).Earlier this week it said it would buy the British holding company REDI, which owns a 49 per cent stake in gas producer Northgas, for $1.5bn.Kovalchuk said in an update on the company’s strategy the group would consider selling a 25 per cent stake by 2015.“Inter RAO is interested in attracting a strategic investor, for which we have set aside 25 per cent of shares. It could be a Russian energy or fuel company, it may be a foreign company that could provide synergies,” he said. Grid company FSK and state-controlled RusHydro have already been lined up to buy stakes of 17-20 per cent and six per cent respectively.The move could be seen as part of a multi-billion dollar privatisation programme of state assets set to kick off in earnest this year.Kovalchuk also said he would consider a share swap with foreign companies – a deal structure that would mirror the agreement signed by Russia’s biggest oil producer Rosneft and BP last week. KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndocenter_img Inter RAO hunts for investors Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Sharelast_img read more