June 18, 2008
UES Sells Energosbyt Rostovenergo Stake to Selskohozyaistvenny Torgovy Dom
Russian electricity holding company UES has sold its 48.43% stake in Energosbyt Rostovenergo, in a public auction, to the Russian agricultural trading house Selskohozyaistvenny Torgovy Dom, for RUB500.1 million.
The public auction was arranged by the agent, Urals Energy Management Company (UEUK), in accordance with Russian law and the resolutions passed by UES's board of directors.Bids for participation in the auction were accepted from June 2, 2008, through June 16, 2008. The auction's base price was set at RUB475 million. After the auction, UES and Selskohozyaistvenny Torgovy Dom signed the auction protocol and the share purchase agreement.