OJSC Power Machines made an offer to acquire 21.02% stake in Public Joint Stock Company The Taganrog Boiler-Making Works Krasny Kotelshchik from the minority shareholders for RUB 540 million.

OJSC Power Machines made an offer to acquire 21.02% stake in Public Joint Stock Company The Taganrog Boiler-Making Works Krasny Kotelshchik (MICEX:KRKO) from the minority shareholders for RUB 540 million on August 9, 2013. Under the terms of the offer, Power Machines will offer RUB 11.956 per share for 44.829363 shares. The deal is subject to approval by Federal Financial Markets Service.

The Board of Directors of PJSC Taganrog Boiler-Making Works Krasny Kotelshchik recommended that the minority shareholders accept the stock acquisition offer.