RAO UES of Russia started accepting applications for participating in a public auction for the sale of a blocking interest in OJSC Wholesale Generating Company No 5 (WGC-5) on 27 March. The auction will take place on 6 June, 2007, and bids are accepted until 28 May, 2007. Put up for sale are 8,853,757,803 ordinary shares of WGC-5. The starting price of the holding is 24.658 billion roubles and every following bid must be 200 million roubles higher than the previous one. In addition, the amount of the first bid increment at the auction is 342 million roubles. To take part in the auction, a bidder must deposit 2.5 billion roubles before 25 May. The organiser of the auction will be OJSC Alfa Bank and the financial advisers will be Alfa Bank and Merrill Lynch. OJSC WGC-5 was registered in Yekaterinburg on 27 October, 2004. The decision on establishing WGC-5 was passed by the RAO UES of Russia Board of Directors on 3 September, 2004. WGC-5's operations include: Konakovo State District Power Plant (GRES), Nevinnomyssk GRES, Sredneuralsk GRES, and Reftinsky GRES. The aggregate installed capacity of the company's generating assets amounts to 8,672 MW for electric power and 2,242 Gcal/h for heat. The authorised capital of WGC-5 amounts to 35,371,685,504 roubles divided into ordinary shares with a face value of 1 rouble. The share of minority shareholders in the authorised capital of the company amounts to 24.97% and the share of RAO UES of Russia is 75.03%. |
