MILAN (Thomson Financial) - Enel SpA said its wholly-owned subsidiary Enel
Investment Holding BV has signed an agreement with the European Bank for
Reconstruction and Development (EBRD) to sell a 4.1 percent stake in Russian
generating company OGK-5.
Enel, which currently owns 59.88 percent of OGK-5, said the stake will be
sold for around 175 million euros.
After the sale of the stake, Enel will hold about 55.8 percent of OGK-5
which will allow it to appoint the majority of OGK-5 board members, Enel said.
EBRD already owns 1.1 percent of OGK-5.
stephen.jewkes@thomsonreuters.com
sj/ra
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|