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EuroSibEnergo Narrows Loss

EuroSibEnergo, the power generator owned by Oleg Deripaska, narrowed its loss in the first half as prices rose.

It posted a net loss of 1.89 billion rubles ($60 million), after a loss of 6.54 billion rubles a year earlier. Sales rose 18 percent to 51.8 billion rubles, it said on its web site Tuesday.

EuroSibEnergo, which has considered a Hong Kong initial public offering, supplies electricity to the Siberian aluminum smelters of Deripaska's United Company RusAl.

(Bloomberg)

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