MOSCOW, Dec. 30 -- Mining giant Norilsk Nickel has decided to sell a 79.24 percent stake in Russian utility OGK-3 utility to state-controlled InterRAO , two sources familiar with the decision told Reuters.
The decision was taken at a Norilsk Nickel board meeting on Tuesday. InterRAO had offered up to 15 percent of its shares for the stake, which has been valued at $2.3 billion.
The second bidder was Russian tycoon Oleg Deripaska, whose aluminium company RUSAL holds 25 percent in Norilsk Nickel. Deripaska's energy firm EuroSibEnergo had offered $2.1 billion for the OGK-3 stake, Russian media reported this month.
At Norilsk Nickel, Deripaska is locked in a conflict over strategy with another key shareholder, Vladimir Potanin.
On Tuesday, RUSAL declined the offer to sell its Norilsk stake to the company for $12 billion. [ID:nN28259601]
Currently, Norilsk Nickel owns 82.7 percent in loss-making OGK-3 [ID:nLDE6BF20U]. InterRAO's planned acquisition would give it enough capacity to power a mid-sized European country [ID:nLDE69H0EQ].