Prokhorov’s Onexim Not Planning to Sell Quadra to Inter RAO

Billionaire Mikhail Prokhorov’s Onexim Group has no plans at present to sell its controlling stake in the OAO Quadra power generator to Russia’s OAO Inter RAO UES, said Onexim Chief Executive Officer Dmitry Razumov.

“Onexim received a proposal on the sale from an investment bank and is considering the idea theoretically,” Razumov said today by phone in Moscow. “We don’t see any sense in such a deal at present.”

Razumov was responding to a report in the Vedomosti newspaper that Onexim is seeking to sell its stake in the power generator, which was formerly known as TGK-4.

Onexim is willing to consider good terms for divesting its stake in Quadra, as it would for any assets, Razumov said.

Inter RAO is interested in all generation assets being offered, including Quadra, and is considering various proposals, the state-run utility’s press service said.

To contact the reporters on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net; Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editors responsible for this story: Amanda Jordan at ajordan11@bloomberg.net; Will Kennedy at wkennedy3@bloomberg.net