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Dubai World bids for Russian power producer
- United Arab Emirates: Tuesday, July 01 - 2008 at 14:15
Dubai World and OAO Roskommunenergo, an energy trader chaired by the son of the Kremlin's top real-estate official, have offered to buy Russia's biggest wholesale power producer for $5.34bn before price caps end in 2011, reported Bloomberg. They are offering to buy OGK-1, which operates four plants in European Russia and two in Siberia. The acquisition by Dubai World would be the first in Russia's energy industry by a Gulf investor.
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Jeff Florian, Senior ReporterTuesday, July 01 - 2008 at 14:15 UAE local time (GMT+4)
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