Business | Shipping
OGK-1 says Dubai World is not the only bidder
Russian firm OGK-1 said on Monday there was a second potential buyer for a controlling stake in the company and a previously announced deal involving Dubai World was conditional.
- Reuters
- Published: 00:09 July 8, 2008
Moscow: Russian firm OGK-1 said Monday there was a second potential buyer for a controlling stake in the company and a previously announced deal involving Dubai World was conditional.
"There is another potential buyer. It is a consortium of Russian and foreign companies which are now working out the structure of the deal. They have shown a very serious interest," said OGK-1 Chief Executive Vladimir Khlebnikov.
Anatoly Chubais, who headed the former state power monopoly of which OGK-1 was a part said Dubai World was guaranteeing $100 million of investment in OGK-1 as part of a $5.3 billion bid for the company.
"The Dubai fund in its preliminary agreement said it is ready to conduct very serious due diligence. This will take about two months," Khlebnikov said.
Share this article
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
The brains behind campaigns
Chief executives likely to be guided more by bankers and consultants
-
Leaders blast Britain's green departure tax
UK government pulls out of UN body ahead of Copenhagen summit
-
Emirates could buy more aircraft
Airline plans new routes, expects demand to increase
