Three named to En+ voting trust as Deripaska looks to reduce stakes

MOSCOW, Jan 18 (Reuters) – Russian conglomerate En+ Group on Friday named three Americans who will form a voting trust to help Oleg Deripaska reduce his stake in the company in exchange for a waiver from U.S. sanctions. Deripaska has agreed to reduce his stake in London-listed En+ to 44.95 percent from 70 percent and assign any  voting rights above 35 percent to a voting trust. D. J. Baker, David Crane and David Knower will, subject to the satisfaction of certain conditions, exercise the voting rights attached to certain shares of En+, which manages the energy and aluminium businesses of Deripaska, it said in a statement. The company did not provide further details about the three individuals or the process of their selection. It was not also clear whether more people would join the voting trust. The U.S. Treasury has agreed to remove sanctions against En+, aluminium producer Rusal, in which En+ owns a 48-percent stake, and power firm EuroSibEnergo, if they restructure to reduce controlling stakes held by Deripaska, who is to remain on Washington’s blacklist.