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RusHydro to Hold Extraordinary Shareholders Meeting on Nov. 16

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Oct. 11 (Bloomberg) -- OAO RusHydro, Russia’s biggest producer of renewable energy, called an extraordinary general shareholders meeting for Nov. 16.

The company is looking to approve an additional share sale and the acquisition of a stake in power producer OAO Irkutskenergo, RusHydro said in a statement on its website today.

Russia owned 60.5 percent in RusHydro as of June 30, according to the company’s website.

The government will use the dividends it will receive from state-owned OAO Rosneftegaz to help finance RusHydro’s investment program, Economy Minister Andrei Belousov said in Moscow on Oct. 10.

To contact the reporter on this story: Halia Pavliva in New York at hpavliva@bloomberg.net

To contact the editor responsible for this story: Tal Barak Harif at tbarak@bloomberg.net

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