Gazprom Power Utilities Say GDR-Holders Can’t Vote on Merger

OAO Gazprom’s OAO OGK-2 and OAO OGK- 6 power utilities said holders of global depositary receipts won’t be able to vote at annual meetings on a planned merger of the generating companies.

GDRs will be redeemable, if the merger is approved, on the same grounds as shareholders who abstain or vote against the move, the Russian power utilities said today in a statement. OGK-6 plans to terminate its global depositary receipt program after a merger with OGK-2, it said.

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net

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