FAS green-lights IES Holding to consolidate assets around TGK-7
MOSCOW. Sept 11 (Interfax) - Russia's Federal Anti-monopoly Service (FAS) has given its permission for IES Holding assets to be consolidated around generating company TGK-7 , the FAS press service told Interfax.
TGK-7's application for permission was received May 28 and approved June 11 with some restrictions aimed at preserving competition, a FAS representative said. No other details were provided.
IES Holding has yet to comment on this subject.
The holding's chief, Boris Vainzikher, said during a December interview with the business daily Vedomosti that the company was looking over the possibility of uniting its assets around one operating company. "We are now working out the possibility of creating a single operating company," he said.
Vainzikher said it was "theoretically possible" to consolidate on the basis of IES, "but it would be better for the consolidation to take place on the basis of a company with a history and financial statements."
IES Holding is the principal shareholder of TGK-5, TGK-6, TGK-7 and TGK-9, which have combined capacity of more than 15 GW. It is controlled by the Renova group.