JSC MRSK Holding (MRSK) - Holding's Subsidiary Acquires Shares in Lenenergo
RNS Number : 7644R
22 November 2012
MRSK Holding's Subsidiary Acquires Shares in JSC Lenenergo
22 November 2012. Moscow, Russia. - MRSK Holding (LSE: MRSK) (the "Company"),
the largest electricity distribution grid company in Russia, today announces
that yesterday IDGC of Urals, a subsidiary of MRSK Holding, completed the
acquisition of 81,119,240 ordinarysharesand 22,750,128 preferred shares of
JSCLenenergo, another subsidiary of MRSK Holding.
Following the acquisition, IDGC of Urals owns 7.15% of voting shares in JSC
Lenenergo. MRSK Holding's direct ownership in JSC Lenenergo is 53.41%.
The acquisition was part of the share swap of 78,887,994 ordinary shares of
JSCKurganenergo owned by IDGC of Urals, which represents a 49% stake in JSC
Kurganenergo, for the ordinary and preferredshares of JSC Lenenergo which
were owned by STS Corporation.
The total value of the deal was RUB 2,743,724,431.32.
Following the completion of this transaction, IDGC of Urals does not own any
shares of JSCKurganenergo.
For further information:
Julia Martynova, IR +7(495) 995 5333 (ext. 2070)
Larisa Millings / Marc Cohen +44 20 7831 3113
Oleg Leonov / Maria Shiryaevskaya +7(495)795 0623
MRSK Holding is the largest electricity distribution grid company in Russia
and, the Company believes, one of the largest electricity distribution grid
companies in the world by length of distribution lines and installed
transformer capacity. MRSK Holding holds interests in and manages 11
interregional and five regional distribution grid companies in Russia. As at
31 December 2011, MRSK Holding together with its subsidiaries owned and
operated approximately 2.1 million kilometres of electricity distribution
lines with a total installed transformer capacity of approximately 395 GVA.
Through its subsidiaries, the Company operates in 69 regions of Russia,
covering an area of approximately 7.8 million square kilometres occupied by
approximately 85 percent of Russia's total population according to Rosstat.
The Company reported revenues of RUB 302.7 billion and net profit of
RUB15.6billion for the first half of 2012.
Some of the information in this press release may contain projections or
other forward-looking statements regarding future events or the future
financial performance of MRSK Holding. You can identify forward looking
statements by terms such as "expect," "believe," "anticipate," "estimate,"
"intend," "will," "could," "may" or "might" the negative of such terms or
other similar expressions. We wish to caution you that these statements are
only predictions and that actual events or results may differ materially. We
do not intend to update these statements to reflect events and circumstances
occurring after the date hereof or to reflect the occurrence of unanticipated
events. Many factors could cause the actual results to differ materially from
those contained in our projections or forward-looking statements, including,
among others, general economic conditions, our competitive environment, risks
associated with operating in Russia, rapid technological and market change in
our industry, as well as many other risks specifically related to MRSK Holding
and its operations.
This information is provided by RNS
The company news service from the London Stock Exchange
ACQQLLBLLFFZFBD -0- Nov/22/2012 07:00 GMT
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