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Unified Energy System

March 24, 2005

RAO "UES of Russia" announced its intention to hold a public invitation for tenders in order to select an investment bank to produce a plan for the exchange of the shares

Moscow, 24 March 2005. RAO "UES of Russia" announced its intention to hold a public invitation for tenders in order to select an investment bank to produce a plan for the exchange of the shares in the subsidiaries and dependent companies of the wholesale generation companies (WGCs) for shares in WGCs.

Measures are underway to establish WGCs pursuant to Resolution of the Russian Government No. 1254-? dated 01 September 2003. The WGCs are to be established as wholly-owned subsidiaries of RAO "UES of Russia". At the first stage of the process, contributions to the charter capital of the WGCs are to be made in form of shares of RAO UES subsidiaries and property of thermal power plants owned by RAO "UES of Russia".

At the second stage, there will be a merger of power plants spun off from regional energos with and into the WGCs, which will be followed by an exchange of shares in WGC subsidiaries held by minority shareholders for additional shares in the WGCs.

The task of the WGC subsidiary consolidation plan to be produced by the investment bank is to increase the stakes held by the WGCs in the power plant subsidiaries to 75% plus one ordinary share.

For more details on the timeframes, terms and conditions for the submission of tenders, and the requirements imposed on tenderers, please go to the Procurements and Tenders section of the Russian version of our website:

https://www.zakupki.elektra.ru/zakupki/showad.cgi?ad=00000004519

CONTACTS: TEL.: +7 (095) 710-63-88, FAX: +7 (095) 710-46-05

 

 

 

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