Russian government-sponsored PE fund, Russian Direct Investment Fund ( RDIF ), has now gone through with its second deal, with the takeover of a potential USD 750 mln stake in Italian power generator Enel OGK-5. The seller, Inter Rao, a Russian power company controlled by the state, is divesting its 26.4 percent share in the company in favor of re-investing the money in the Russian market. The sale amount is expected to hit USD 625 mln at a minimum, but the stake will fetch an additional USD 125 mln if an 18-percent IRR is passed. Inter Rao will also get a 20 percent cut of the take on profits, from the investors.
Russian RDIF Scoops Up Italian Power Generator Stake
Connect with us
Subscribe to our e-mail newsletter to receive updates.