MOSCOW, March 1 (Reuters) - Russian state-controlled power group InterRao is close to agreeing to sell its minority stake in Italian-controlled power generator OGK-5 to a private-equity investor group, sources close to the deal said on Thursday.
The sale, valued at around $750 million, would rid InterRao of an unwanted 26.4 percent stake in OGK-5 it received from the Russian state as part of a capital increase it undertook last year.
The deal would comprise an up-front payment of $625 million, with the remainder tied to agreed performance criteria, two sources said. An announcement had been expected on Thursday evening but talks were continuing.
If confirmed, the deal would value the stake at an 8 percent premium to its market value of $692 million.
The buyer group includes Xenon Capital Partners, a Moscow-based energy investment boutique, the Macquarie Renaissance Infrastructure Fund, which also has a Russia focus, and the state-backed Russian Direct Investment Fund. (Reporting by Douglas Busvine and Anastassia Lyrchikova, Editing by John Bowker)