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. Last Updated: 07/27/2016

Inter RAO Approves Purchase of 38Bln OGK-1 Shares

Inter RAO said late Wednesday that its board approved the purchase of as many as 38 billion shares in OGK-1.

Inter RAO shareholders will vote on the cash-based stock purchase at a Dec. 7 meeting, the utility said. Power producer OGK-1 will use the cash to expand its Urengoi electricity plant, according to the statement.