State run utility Inter RAO said Friday that it may buy A-Tec Industries after the Austrian engineering company filed for debt relief.
Inter RAO wants to develop an engineering business and is in “active talks” with EMAlliance to jointly bid for A-Tec or its biggest unit, AE&E, said Anton Nazarov, a spokesman at Inter RAO.
A-Tec, a conglomerate that owns companies ranging from copper producers to power plant builders, filed for insolvency Oct. 20 after efforts to refinance a bond failed.
AE&E followed with its own insolvency filing on Nov. 24 after talks to sell it and to get bridge financing collapsed.
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