RusHydro might acquire stake in EuroSibEnergo by year's end
DIVNOGORSK. June 29 (Interfax) - OJSC EuroSibEnergo hopes to close its deal with OSJC RusHydro for the latter company's acquisition of a stake by the end of 2011, EuroSibEnergo's general director, Yevgeny Fedorov, said at briefing at Krasnoyarsk Hydroelectric Power Plant on Wednesday.
"We hope to have a final agreement by the end of the year. We have all the prerequisites for this," Fedorov said.
He said that the closure of this deal is now impossible since Inter RAO UES now owns a share packet in OJSC Irkutskenergo.
"I think that RusHydro will have finished an additional share issue by the end of November. After this, it will be possible to talk about converting shares," Fedorov said.
It was earlier reported that EuroSibEnergo's board chairman, Andrei Likhachev, said that the company is ready to offer a blocking packet to RusHydro.
The genco hopes to acquire shares in EuroSibEnergo in exchange for 40% in Irkutskenergo, a blocking packet in Krasnoyarsk HPP and the Yenisei Cascade. EuroSibEnergo is the majority shareholder in Irkutskenergo and Krasnoyarsk HPP.
After RusHydro's acquisition of a stake in EuroSibEnergo, the latter company might finally hold its IPO. Likhachev earlier said that EuroSibEnergo plans to hold an IPO after finishing the development of the company's shareholder structure, including RusHydro's ownership status.