Gazprom’s OGK-2, OGK-6 Power Generating Units Plan to Merge

OAO OGK-2, OAO Gazprom-controlled power utility, said it may merge with OAO OGK-6, which is also controlled by the Russian gas export monopoly.

After the merger, OGK-2 shares will continue to be listed and traded on Moscow exchanges, the utility said in a regulatory filing today. OGK-2 global depositary receipts will be delisted, and the utility will need to apply for readmission to trading on the London Stock Exchange, according to the statement.

The boards of both utilities and their shareholders need to approve the proposed merger, OGK-2 said. OGK-6 will cease to exist, the statement said.

To contact the editor responsible for this story: Anna Shiryaevskaya at ashiryaevska@bloomberg.net

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