Deripaska’s Russian Machines to Seek $3 Billion in IPO
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OAO Russian Machines, a Moscow-based manufacturer controlled by billionaire Oleg Deripaska, will seek as much as $3 billion by selling a minority stake in overseas markets, said Chairman Siegfried Wolf.
The company plans to sell as much as 25 percent in an initial public offering outside of Russia, Wolf said in an interview at Bloomberg’s headquarters in New York yesterday. Russian Machines will probably sell stakes in its individual units, rather than the whole company, he said.