OGK-3 Rises Most in Two Months on EuroSibEnergo Offer

OAO OGK-3 jumped by the most in almost two months after OAO EuroSibEnergo, a utility owned by billionaire Oleg Deripaska, offered $2 billion in cash to OAO GMK Norilsk Nickel for its controlling stake in the power generator.

The stock climbed 2.8 percent to 1.72 rubles by the 6:45 p.m. close in Moscow, its biggest increase since Oct. 5.

EuroSibEnergo is ready to buy Norilsk’s 79 percent stake in Moscow-based OGK-3, according to Andrei Likhachev, chairman of the utility’s Cyprus-based parent company EuroSibEnergo Plc. Likhachev commented in a Nov. 30 letter to Norilsk Chairman Vasily Titov and Chief Executive Officer Vladimir Strzhalkovsky, a copy of which has been obtained by Bloomberg News.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE