(Adds experts) MOSCOW, October 5 (RIA Novosti) - The board of directors of Unified Energy System, Russia's electricity monopoly, approved the purchase of the Silovye Mashiny (Power Machines) stock, the UES news service said Wednesday.
On September 20, UES said it would buy a 22.43% stake in Silovye Mashiny, Russia's leading manufacturer of equipment for hydro, thermal, gas and nuclear power plants, from tycoon Vladimir Potanin's Interros holding in addition to the package it owns through a subsidiary. Accordingly, UES will bring its total stake in Silovye Mashiny to 25% plus one share. UES and Interros are set to manage another 30% stake.
"Attracted credit funds will be the main source of financing the stake purchase," the news service said.
UES regards Siemens, a Silovye Mashiny minority stockholder, as a potential strategic investor in Silovye Mashiny.
"UES is set to begin talks with the Interros holding and Siemens on the involvement of the German concern in this project," the news service said.
Siemens owns a 4% stake in Silovye Mashiny.
A number of experts said the UES decision to purchase the Silovye Mashniy stock meshed with Russia's strategic goals.
Alexander Kornilov, a power expert with Brokercreditservice, said the state was looking "to gather all strategically important enterprises under the wing of the state-owned company [UES]."
Dmitry Skryabin, a power analyst with the Aton investment company, said "the decision to buy [the stake] was politically motivated."
Stanislav Kleshchev, chief analyst with the Financial Bridge investment company, said UES' need for new technical equipment was a key reason for the purchase.
The experts agreed the purchase of the Silovye Mashniy stock would not affect the further capitalization of generating companies formed as part of the UES reform.
