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Gold/Mining/Energy : IrkutskEnergo
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To: Copperfield who started this subject6/10/2004 11:55:59 AM
From: Copperfield   of 33
 
Basic Element considers possibility of buying Irkutskenergo

RosBusinessConsulting. Thursday, Jun. 10, 2004, 5:58 PM Moscow Time

Basic Element is ready to consider the possibility of buying 40 percent in the state-owned company Irkutskenergo, Basic Element Chairman Oleg Deripaska told journalists. According to him, the final decision will be made after the terms of the auction are announced, if the deal proves profitable for Basic Element. Deripaska did not name a possible price for this stake in Irkutskenergo, but mentioned the fact that Irkutskenergo securities had rose 150 percent over the past year. Authorized capital of Irkutskenergo totals RUR4.766bn (about $138.26m). The number of shares outstanding amounts to 4.766bn. The government holds a 40-percent stake in Irkutskenergo, and Basic Element's stake in it is estimated at 30-40 percent. SUAL owns about 10 percent in Irkutskenergo.
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