The European Bank for Reconstruction and Development backed United Co. Rusal billionaire shareholder Victor Vekselberg in a dispute with Chief Executive Officer Oleg Deripaska over a power station, Kommersant reported.
Prime Minister Vladimir Putin said in December that Vekselberg had agreed to sell the Bogoslovskaya power station to Rusal. A sale would help Rusal control electricity costs for its nearby aluminum smelter. The two parties have since failed to agree on a price, Kommersant said.
The EBRD owns almost 8 percent of Vekselberg’s OAO TGK-9 utility.
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