RusHydro finalized the sale of its shareholding in Trust Gidromontazh
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that it has terminated its participation in a general contractor, JSC Trust Gidromontazh, following the sale of RusHydro’s shareholding in the company in the amount of 97,341,002 ordinary and 29,712,027 preferred shares, equivalent to 31.98% in share capital, in favor of JSC TEK Mosenergo.
The disposal of shares was approved by the Company’s Board of Directors on July 15, 2013 for a total consideration of RUB 1,663,174,970.
JSC Trust Hydromontazh provides engineering and general contractor services to power generation companies, including RusHydro.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
Shares / ADR