The Russian holding company, which has large interests in mining, metals, energy, finance, retail, real estate and other sectors, did not specify the size of the deal, only saying it was based on the current Power Machines share price.
Power Machines accounts for 37% of Russia's turbines, turbo-generators, hydro-generators and electrical equipment market.
Earlier this month, Russia's Anti-Monopoly Service prohibited Germany's Siemens, which holds 25% plus one share in Power Machines, from increasing its interest to a controlling stake.
Russian electricity monopoly Unified Energy System (UES), which holds a similar stake, announced plans in July to sell its shares. Another 19.5% in Power Machines belongs to minority shareholders.
In late August, the Anti-Monopoly Service allowed Highstat Ltd. to buy up to 100% in Power Machines.
The service also allowed billionaire Oleg Deripaska, owner of industrial holding Basic Element, to bid for up to 82% of the company's voting shares.
Power Machines provides engineering services, and produces, assembles, services and modernizes equipment for hydro, thermal, gas and nuclear power plants and the transportation industry. It has clients in 87 countries.
