20 Jun 2011 14:06

Inter RAO to decide by end 2011 on sale of Enel OGK-5 stake

ST.PETERSBURG. June 20 (Interfax) - Inter RAO UES intends to reach agreement with Enel by the end of this year regarding the possible sale of its blocking stake in the Enel OGK-5 generating company, which Inter RAO received during a share issue.

"We plan to draw a line under this by the end of the year," Inter RAO chief Boris Kovalchuk told reporters during the economic forum in St Petersburg on Friday.

Inter RAO's strategy is to divest stakes in companies that do not give it a management role. Asked what Enel might offer Inter RAO in return, Kovalchuk said: "It could be cash, other assets, securities, more liquid assets which give us management opportunities."

Enel owns the controlling stake in OGK-5.