RusHydro announces the acquisition of 3.39% of its own shares
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces a deal to purchase its own shares comprising 3.39% of the outstanding share capital (13,082,804,094 common shares of RusHydro).
The stake was obtained by JSC Hydroinvest, 100% subsidiary of RusHydro, via a swap for 25% stake in JSC Krasnoyarskaya HPP (or 97,775,000 common shares of the latter) with JSC Eurosibenergo. No cash was involved in the transaction from either side. The deal was approved by the governing bodies of RusHydro.
RusHydro purchased the stake in JSC Krasnoyarskaya HPP in 2011 in exchange for 13,082,804,094 of own shares.
George Rizhinashvili, Deputy Chairman of the Management Board of RusHydro, commented: “The deal is in line with our strategy aimed at optimization of assets of the Group. We see ways for efficient use of the purchased shares for financing our investment needs”.
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