Deals
Norilsk to Sell OGK-3 to Inter RAO, Rejects Deripaska’s Offer
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OAO GMK Norilsk Nickel accepted a bid from state-run OAO Inter RAO UES for a controlling stake in its wholesale power generator, trumping a $2.1 billion offer from billionaire Oleg Deripaska.
The board yesterday approved a swap of 79.2 percent in OAO OGK-3 for a minority stake in Inter RAO in a deal that will probably close in May or June, said Andrei Klishas, president of the nickel producer, Russia’s largest mining company.