RAO UES Holds Public Auctions to Sell its Stakes in Samaraenergo and
Ulyanovskenergo Energy Retail Companies
Moscow, 24 April 2008. Today, RAO "UES of Russia" held
public auctions to sell its shares in the energy retail companies (OAO
"Samaraenergo", and OAO "Ulyanovskenergo"). Bids for the auction were
accepted from 14 April to 23 April 2008.
The public auctions were arranged by OAO "Urals Energy Management
Company", Accredited Agent of RAO "UES of Russia", in accordance with the
applicable Russian laws and the resolutions taken by the RAO UES Board of Directors on 31
The start prices for the shareholdings in the ERCs equal to the market
value determined based on the report prepared by a consortium of independent appraisers
were as follows:
55.4% stake in OAO "Samaraenergo": RUB2.035 billion;
49% stake in OAO "Ulyanovskenergo": RUB120 million.
The auction to sell the 55.4 percent stake in OAO
"Samaraenergo" was won by ZAO "Troika Dialog Financial Broker", which
offered the highest price for the shares, RUB2.035 billion.
The 49 percent stake in OAO "Ulyanovskenergo" was sold to OOO
"MSK Securities Investment Company" for RUB120 million.
Upon completion of the auctions, RAO "UES of Russia" and the
auction winners signed auction protocols and the Share Purchase Agreements in respect of
the shares in the energy retail companies.
The auction to sell the 48.4% stake in OAO "Saratovenergo"
failed to attract any bidders.
The next round of auctions to sell shares in ERCs (OAO "Penza
Energy Retail Company" and OAO "Tyumen Energy Retail Company") will be held
on 22 May 2008.
In statement on the results of today's auctions, Member of the
Management Board and Head of RAO UES Project Center Vladimir Avetisyan said: "Today's
auctions were different from the auctions held previously in terms of bidding procedure,
because the shares of OAO "Samaraenergo" , OAO "Ulyanovskenergo", and
"OAO Saratovenergo" were contributed to the authorized capital of RAO "UES
of Russia" at the time of its establishment and their sale was to be approved by the
Government of the Russian Federation. We received such approval on condition that the
auction to sell the shares in these companies will use an open bidding procedure.
Taking into account the Government's order relating to the sale of
Saratovenergo's shares, RAO UES will not sell the Saratovenergo shares through the ISTRA
Information and Trading System as it did with other ERC shares which were not sold, but
will sell them at a new public auction to be held at a later date.