Russian regional power utility TGC-1 said on Tuesday its shareholders had approved an additional share issue to raise about $1.3 billion in a public offering in July.
Russian regional power utility TGC-1 has applied to list shares on the London Stock Exchange as part of a share issue planned for mid-July to raise around $1.3 billion.
The Halcyon Advisors investment company is considering the possibility of buying out from LLC Monte Valle the shares of the energy companies earlier owned by YUKOS; the assets were sold on 17 April at an auction organized as part of the oil-company bankruptcy procedure
A scarcity of electric power over the coming years could prove to be one of the basic ‘centres of constraint’, affecting the further development of the Russian economy.
Mosenergo's intentions to commission new capacity in the centre of Moscow are attracting an increasing number of investors. Following managers from the Severstaltrans group, Italy's Merloni known in Russia for its Indesit and Ariston products has volunteered to help the power company.
The Russian power industry may soon have another foreign investor. Anatoly Chubais, chairman of the board of management of RAO UES of Russia, and Martin Roman, chairman of the board and chief executive officer of the Czech power company CEZ, yesterday signed a memorandum of understanding.
RAO UES Committee for Strategy and Reforming has supported the management’s proposal to amend the scheme of the holding company's final reorganization. According to the amendments, the minority shareholders of RAO UES possessing less than 0.1% of the holding's shares will be able to exchange shares in OGCs and TGCs between themselves and with the government.
