Source Pravda.Ru

Fradkov signs instructions re Silovye Mashiny stock acquisition

MOSCOW, Oct. 4. Prime Minister Mikhail Fradkov has signed instructions for governmental representatives in the Unified Energy System of Russia Board of Directors in the ballot on the acquisition of Silovye Mashiny (Power Machines) stock, deputy head of the government office Mikhail Kopeikin said on Tuesday.

The premier recommended the government representatives to conclude the deal, he said.

The UES Board of Directors considered the acquisition of 22.43% of Silovye Mashiny stock on September 30 but failed to make a decision because of the absence of governmental instructions, Prime Tass said.

The deal will give the UES the controlling bloc of stock in Silovye Mashiny, including the shares owned by Lenenergo. There is a preliminary agreement that the UES will get 30% of Silovye Mashiny stock from Interros, Itar-Tass reported.