Mosenergosbyt sold at auction for $478 million
Published May 28th, 2008
An auction for a 50.9% stake in Moscow electric power trader Mosenergosbyt was won Wednesday by unknown firm Korporativno-trustoviye proyekty, which paid 11.3 bln rubles ($478 mln), Russia’s electricity monopoly said.
The controlling stake, which was sold at the starting price, was contested by two bidders, Unified Energy System of Russia (UES) said.
Mosenergobyt supplies electric power and collects payments for electricity supplies in the capital and the surrounding region.
Mosenergosbyt is Russia’s largest electricity sales company, selling 8% of Russia’s total electric power output.
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