Russia OGK-3 eyes TGK-4, other power sector assets

MOSCOW, Jan 14 (Reuters) - Russian electricity producer OGK-3 OGKC.MM, controlled by metals firm Norilsk Nickel GMKN.MM, is considering a range of acquisitions in the power sector, notably TGK-4 TGKD.MM, its chairman said on Monday.

“We are looking at a whole range of potential firms, regions, where there is demand, and we’re studying the possibilities,” said Andrei Bugrov, who is also a Norilsk board member.

Bugrov said OGK-3 had visited the data room of a number of generating firms, most recently TGK-4, accessing confidential information reserved for potential buyers.

“We went into the data room of one generating company, but we were mainly attracted by the firms competing to buy it. With this asset [TGK-4], we are attracted by the quality and structure of the asset,” Bugrov told Reuters in an interview.

The other parties vying for control of TGK-4, or Territorial Generating Co. No. 4, are Korean KEPCO 015760.KS, Czech CEZ CEZPsp.PR, billionaire Vladimir Lisin, and investment fund Prosperity Capital Management, which already holds 19.2 percent.

The deadline for bidding on TGK-4 is Jan. 28, and Bugrov said that OGK-3 would decide this week on whether to put in a bid.

TGK-4 is one of 20 major power producers being sold off Russia's former electricity monopoly, Unified Energy System (UES) EESR.MM, as part of a major reform of the sector.

In March, OGK-3 became one of the first of these companies to be spun off from UES after Norilsk bought up its entire new issue of shares for $3.1 billion, gaining effective control. (Reporting by Olga Popova, writing by Simon Shuster; Editing by Paul Bolding)