RAO UES of Russia sold on Wednesday its equity stakes in three power-selling companies, namely: Voronezh Power-Selling Company, Tver Power-Selling Company and Karelia Power-Selling Company, a source attending the auction told Interfax. All shareholdings were sold at the starting price, said the source. The Karelian "seller" was acquired by Transneftservis S, another auction attendee reported to Interfax. Voronezh Power-Selling Company was bought by LLC IC KT Project, while Tver Power-Selling Company was sold to LLC Khronos. Equity participation in Bryansk Power-Selling Company (49%, RUR 375 million), Komi Power-Selling Company (50.11%, RUR 375 million), and Udmurtia Power-Selling Company (49%, RUR 500 million) were not realized. "The bidders didn't confirm the starting price," an interlocutor explained to the agency. The list of bidders registered to take part in the auction included five bidders for Bryansk Power-Selling Company, three bidders for Komi Power-Selling Company and two bidders for Udmurtia Power-Selling Company, he added. The 49.01% interest in Voronezh Power-Selling Company started at RUR 300 million, the 49% stake in Tver Power-Selling Company - at RUR 550 million and 100% shares of Karelia Power-Selling Company - at RUR 350 million. On Tuesday, the only "seller' that RAO UES managed to dispose of was Kurgan Power-Selling Company that went at the starting price of RUR 80 million to units controlled by Artyom Bikov, a major shareholder of Kurganenergo. Thus, the project center established to realize RAO UES assets fetched RUR 1,280 million for the power-selling companies over two days. The next second-stage auction for 48.66% shares of OJSC Astrakhan Power-Selling Company with the starting price set at RUR 350 million will be held on 5 October. At the end of May, RAO UES sold its equity stakes in seven power-selling companies realizing RUR 7.47 billion. In total RAO intends to sell its interest in more than fifty selling companies nationwide. The fate of those selling companies that found no sale at the first auctions will be decided later. The Board of Directors of RAO UES had earlier rejected the idea of "a Dutch auction" (by writing down the price) for the second attempt to dispose of the "sellers". The assets realization project center is to report by the end of September to RAO Board of Directors on actions to be taken to realize the power-selling companies that were not sold in the first auctions. |
