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7% of RusHydro for Sale

The government plans to sell in the next 12 months a stake of about 7 percent in RusHydro — the country's biggest hydroelectric power producer — worth about $1 billion at current prices.

"About 7 percent of RusHydro will be prepared for sale and sold within one year," Deputy Prime Minister Igor Sechin told reporters on Tuesday. "We are expecting to get a good price."

Russia had said it planned to sell a 7.9 percent stake in RusHydro from 2011-2013 as part of a broader $30 billion asset sale. It owns 57.9 percent of RusHydro, which said earlier this year it had had talks with unidentified European and Chinese companies on selling the stake.

(Reuters)

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