Inter RAO's preliminary stake in Irkutskenergo estimated at 50 bln rubles
MOSCOW. Dec 25 (Interfax) - The preliminary estimate of OJSC Inter RAO UES' 40% stake in OJSC Irkutskenergo comes to around 50 billion rubles, the power holding's CEO, Boris Kovalchuk, told Interfax.
"Yes, a preliminary estimate has been prepared under various methods at around 50 billion rubles," he said. Kovalchuk said that the final estimate should be ready in 2013 when the appraiser's act is prepared.
This estimate is generally in line with previous calculations prepared in 2011, coming to 48.5 billion rubles.
The buyer of this stake is still unclear: the government believes that OJSC RusHydro should purchase this stake (the necessary decision was earlier made) but the Presidential Commission decided in the summer that Rosneftegaz should acquire the stake.
At the same time, Inter RAO's head of strategy and investment, Ilnar Mirsiyapov said that he see no reason why this stake would be transferred as payment for RusHydro's additional shares, adding it would be more profitable to sell the stake.
It was earlier reported that the Presidential Commission for the Fuel and Energy Complex decided on the sale of Inter RAO's 40% stake in Irkutskenergo to Rosneftegaz at the market price. Kovalchuk earlier said that this transaction would help cover a $1 billion deficit in Inter RAO's investment program. The 40% stake in Irkutskenergo was estimated at 48.5 billion and Kovalchuk said "we see no reasons why the company's capitalization would decrease."
It was earlier reported that the stake in Irkutskenergo would be transferred to RusHydro in order to implement a transaction with Eurosibenergo through which the hydroelectric holding would receive 35% in the latter company. Prior to this, in addition to the 40% in Irkutskenergo, RusHydro could transfer a blocking stake in OJSC Krasnoyarsk Hydroelectric Power Plant (68.29% of which is held by Eurosibenergo), dams in the Angar HPP cascade (which are used by Irkutskenergo) and a stake in OJSC Irkutsk Electronetwork Company (which could be transferred to RusHydro as part of the additional share issue) to Eurosibenergo.
OJSC Irkutskenergo is controlled by Eurosibenergo.
