Gazprom Energoholding asks anti-monopoly regulator for permission to buy Quadra
MOSCOW. March 21 (Interfax) - LLC Gazprom Energoholding (GEH), which consolidates Gazprom's generating assets, including OJSC Mosenergo and OJSC OGK-2 , has requested permission from Russia's Federal Anti-Monopoly Service (FAS) to buy OJSC Quadra , a GEH spokesman told Interfax on Thursday.
"Yesterday we submitted an application to the FAS for a controlling stake," the spokesman said.
If it secures approval, GEH expects to complete the purchase in June or July.
GEH was forced to withdraw a filing to purchase the power assets of Renova in 2011 after it could not reach a consensus with the FAS.
Quadra's stock has risen 18% to roughly 11 billion rubles on the MICEX/RTS exchange since a potential deal was first reported. However, Mikhail Prokhorov paid 26 billion rubles for his 50.3% stake in Quadra in 2008.
Inter RAO UES had also been interested in acquiring Quadra, but the sides failed to agree the price. Moreover, the FAS would not clear Inter RAO to purchase over 75% of Quadra shares.
Quadra unites 24 combined heat and power plants with capacity to generate 3,500 megawatts of electricity and 15,300 Gcal/hr of heat, as well as 5,000 kilometers of steam pipeline and 357 boilers. It services a territory covering 11 regions in the Central Federal District.