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Rosseti OAO Announces Completion of Acquisition of Shares in Kuban'energo OAO and Tomskaya raspredelitel'naya kompaniya OAO


Thursday, 3 Oct 2013 08:00pm EDT 

Rosseti OAO (Russian Grids) announced the completion of acquisition of shares in Kuban'energo OAO (Kubanenergo) and Tomskaya raspredelitel'naya kompaniya OAO (Tomsk Distribution Company or TDC), subsidiaries of Russian Grids, from JSC Tumenenergo, another subsidiary of Russian Grids. Following the acquisition of 30,926,801 ordinary shares of Kubanenergo, Russian Grids’ voting stake in Kubanenergo increased from 63.01% up to 84.65%. As a result of the acquisition of 1,325,424,884 ordinary shares and 158,213,911 preferred shares of TDC, the Russian Grids’ voting stake in TDC grew from 52.03% to 85.77%. Prior to the transactions, Russian Grids owned Kubanenergo and TDC shares together with JSC Tumenenergo. Russian Grids now has direct ownership of its stakes in Kubanenergo and TDC. 

Company Quote

0.777
0.0050 +0.65%
30 Dec 2013