The Board of Directors of RAO UES of Russia decides to acquire 728,017 additional shares in JSC Irganaiskaya HPP
The Board of Directors of RAO UES of
The offering price was set by the Board of Directors of JSC Irganaiskaya HPP on 6 September, 2007 drawing on a report of a Consortium of independent appraisers in the amount of 7,313.27 roubles per share.
In payment for the additional shares, RAO UES of
In the final stages of the formation of RusHydro’s target structure, Irganaiskaya HPP, together with JSC Cascade of Nizhne-Cherekskiye HPPs, will be absorbed into RusHydro. The relevant decision was adopted by the General Meeting of Shareholders of JSC RusHydro on 12 October, 2007. As a result of the absorption planned for June 2008, the assets handed over by RAO UES of
The intention is to complete, by July 2008, formation of the target model of JSC RusHydro as an operating company managing affiliates set up on the basis of operating HPPs and exercising corporate governance of subsidiary companies incorporated to implement investment projects (construction of HPPs, TPPs, WPPs and GeoPPs), as well as design institutes. By this time, the Company will absorb JSC Cascade of NChHPPs, JSC Irganaiskaya HPP and JSC RusHydro State Holding and JSC RusHydro Minority Holding, set up in the final stages of the reorganisation of RAO UES of
NP TSA was set up in November
In connection with the absorption of JSC Zhigulevskaya HPP and JSC Neporozhniy SShHP, which are members of NP TSA, by JSC RusHydro in January 2008, membership in NP TSA transferred to JSC RusHydro.