VEB exercises put option on 5% of Inter RAO shares to raise cash

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VEB exercises put option on 5% of Inter RAO shares to raise cash - Dmitriev

FORTALEZA. July 16 (Interfax) - Vnesheconombank (VEB) has exercised its put option on 5% of shares in Inter RAO UES in order to raise cash for priority projects, VEB CEO Vladimir Dmitriev said.

"We were governed by the expiration date of our right to the option. Definitely, we can use the money," Dmitriev told journalists on the sidelines of the BRICS summit on Tuesday.

The money will be used to finance priority projects in which VEB is participating, he added.