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Holding MRSK OAO Determines Prices For Kurganenergo OAO And Lenenergo OAO Under Asset Swap Deal With LLC STS Corporation-Interfax

Tuesday, 9 Oct 2012 03:08am EDT 

Interfax reported that the stock prices have been determined for Kurganenergo OAO and Lenenergo OAO in the framework of Holding MRSK OAO's (IDGC Holding) asset swap deal with LLC STS Corporation. One Kurganenergo OAO share will cost RUB 34.78, so the entire stake of 78,887,994 shares (49% of charter capital belongs to Mezhregional'naya raspredelitel'naya setevaya kompaniya Urala OAO (IDGC of Urals)) will ring up to RUB 2,743,724,3. The price of one ordinary share in Lenenergo OAO will be RUB 13.93, and one preferred share RUB 35.76. Therefore, a stake consisting of 81,119,240 ordinary shares and 22,750,128 preferred shares will cost RUB 943,724,43. IDGC Holding will give Kurganenergo OAO’s shares to STS Corporation in exchange for Lenenergo OAO’s stock, with the latter company paying an additional RUB 800 million. In August, Russia's Federal Antimonopoly Service approved a request from STS Corporation to obtain 100% of Kurganenergo OAO's voting shares. IDGC of Urals owns 49% of charter capital (53.81% of ordinary shares), the Regional Energy Development Fund owns 19.82%, Razvitie Fund 19.31% and LLC Management Consulting 10.96%. Lenenergo OAO has charter capital of RUB 1.02 billion, split into 926.02 million ordinary and 93.26 million preferred shares with par value of RUB 1 each. Lenenergo OAO finished placing an additional share issue in August. It placed 209.04 million ordinary shares (76.6% of the total issue) at RUB 14.56 per share and raised RUB 3.04 billion. 

Company Quote

0.0050 +0.65%
30 Dec 2013