Public Auction to Sell a 25.03% Stake in WGC-5 to Be Held 6 June
Published March 27th, 2007
The public auction to sell the 25.03 percent stake held by RAO “UES of Russia” (RTS: EEST/EESRP, EESRG/EESRPG; MICEX: EESR/EESRP; LSE: UESD; FSE: UES; US OTC: USERY/ USEPY) in OAO “WGC-5″* will be held on 6 June 2007. Bids will be accepted from 27 March through 28 May 2007.
The reserve price is equal to the fair market value of RUB24.658 billion determined by an independent appraiser, with a price increment of RUB200 million, and the first increment of RUB342 million.
The auction will be arranged by OAO “Alfa-Bank”, an Accredited Agent of RAO “UES of Russia”, in accordance with the applicable Russian laws and pursuant to the RAO UES Board resolution of 9 February 2007.**
Both Russian and foreign legal entities and natural persons may take part in the auction. The auction participant that offers the highest price will be named the winner.
The Auction Notice (in Russian) may be viewed in the section Purchases and Announcements / Information about purchases and sales in OAO RAO “UES of Russia” on the Company’s website.
* OAO “WGC-5″ comprises the Konakovskaya TPP, Nevinnomysskaya TPP, Sredneuralskaya TPP, and Reftinskaya TPP. The installed capacity of the company’s power plants is 8,672 MW. WGC-5 shares were admitted to trading on ZAO “MICEX Stock Exchange”, OAO “RTS Stock Exchange”, and NP “RTS Stock Exchange” in September 2005. In autumn 2006, WGC-5 raised USD459 million, or RUB12.1 billion, through the public offering of 5.1 billion shares (which makes about 14.1 percent of the company’s authorized capital). The offering proceeds will be used to finance the investment projects.
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