German utility E.ON has acquired a 69% stake in Russian power plant company OGK-4 (Wholesale Generating Company 4) for €4 billion. OGK-4 is one of six large-scale power plant operators in Russia being privatised by the state-run holding company RAO UES.
The shares were put out to tender in a series of auctions, with E.ON beating rival bids from Finnish utility Fortum and a consortium including domestic Russian aluminium company Rusal.
The deal was signed by E.ON CEO Wulf Bernotat, and Anatoly
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