Bloomberg News

Templeton Interested in RusHydro Stake in Sale, CEO Lim Says

July 29, 2009

Templeton Asset Management Ltd. may increase its holding in OAO RusHydro as Russia’s largest hydroelectricity producer sells more shares.

Templeton, which has $2 billion of investment in Russia, is interested in boosting its stake, Chief Executive Officer Dennis Lim said in the Russian city of Volgograd today.

By August, RusHydro plans to sell more than 8 billion rubles of shares not purchased by the state in a sale this month. The price for the offering is 1 ruble per share.

RusHydro fell 1 percent to 1.073 rubles at 1:08 p.m. on the Micex stock exchange in Moscow.

To contact the reporter on this story: Ilya Khrennikov in Volgograd via the Moscow newsroom ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net


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