Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Siemens Sells Power Machines Blocking Stake, Kommersant Reports

Don't Miss Out —
Follow us on:

Feb. 20 (Bloomberg) -- Siemens AG sold a blocking stake in OAO Power Machines, Russian billionaire Alexey Mordashov’s turbine producer, for no more than $280 million, below the market price, Kommersant reported today, citing an unidentified person familiar with the terms of the transaction.

The stake was sold in December to Highstat Ltd., which is controlled by Mordashov, helping it to consolidate 95.3 percent of the turbine producer, the newspaper said.

To contact the reporter on this story: Marina Sysoyeva in Moscow msysoyeva@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.