ESC RusHydro has submitted mandatory offers to shareholders of four Energy retailing companies to the FSFM
Yesterday, on June 9, 2010 JSC ESC RusHydro (100% subsidiary of JSC RusHydro) has submitted to the FSFM of Russia mandatory offers to shareholders of JSC Mosenergosbyt, JSC Petersburg Energy Retailing Company, JSC Saratovenergo, JSC Tambov Energy Retailing Company, (Energy retailing companies) in accordance with procedure for government control over purchase of securities of joint stock compаnies, provided by article 84.9 of the Federal Law «On the Joint Stock Companies».
Since shares of Energy retailing companies are traded in the regulated market, conditions for purchase of shares in the framework of mandatory offers can only be determined after reviewing of the offers by the FSFM of Russia.
In the end of May, 2010 majority stakes in the Energy retailing companies have been purchased by JSC ESC RusHydro from JSC RAO UES of East.
JSC ESC RusHydro was formed in November 2008, with the aim to consolidate trading activity in the wholesale and retail markets of electricity and related spheres. JSC ESC RusHydro has controlling stake in JSC Altayenergosbyt, JSC Chuvash Energy Retailing Company, JSC Krasnoyarskenergosbyt, JSC Mosenergosbyt, , JSC Petersburg Energy Retailing Company, JSC Ryazan Energy Retailing Company, JSC Saratovenergo, JSC Tambov Energy Retailing Company, United Energy Retailing Company.
Shares / ADR