Wires

Russia's EuroSibEnergo puts IPO plans on hold

MOSCOW, Oct 10 (Reuters) - Russian electricity firmEuroSibEnergo, owned by tycoon Oleg Deripaska, will put offplans for an initial public offering (IPO) in 2013 to focus ona deal with hydroelectric power giant RusHydro , itshead said on Wednesday.

EuroSibEnergo had initially planned to place its shares inHong Kong and raise between $1.1 billion and $1.5 billion in2011, but postponed the plans due to volatilemarkets.

Ahead of an IPO, RusHydro may exchange some of its assetsfor shares in EuroSibEnergo, a banking source previously said.

"We won't consider an IPO in 2013, our number one goal is todo this deal (with RusHydro)", Chief Executive Evgeny Fedorovtold journalists on Wednesday.

Fedorov did not talk about terms of a deal but said atransaction was still awaiting approval from authorities.

(Reporting By Anastasia Lyrchikova, writing by Megan Davies;Editing by Mike Nesbit)

((megan.davies@thomsonreuters.com)(+7 916 391 8262))

Keywords: RUSSIA EUROSIBENERGO/IPO