Inter RAO gets regulator clearance to buy Moscow, St. Petersburg ERCs - Artemyev
MOSCOW. March 15 (Interfax) - The Federal Antimonopoly Service (FAS) has cleared Inter RAO UES to buy stakes in Mosenergosbyt and St. Petersburg Retail Company, FAS chief Igor Artemyev said at a press conference in Moscow.
The FAS has also cleared Inter RAO to purchase stakes in Saratovenergo , Tambov Energy Retail Company , Altaienergosbyt, and Kuban Energy Retail Company.
But the FAS set the condition that Mosenergosbyt, St. Petersburg Retail Company and Saratovenergo must not impede access by other companies to the retail market. In addition, the retail companies may not conclude unregulated agreements on electricity deliveries with companies in the Inter RAO group.
Inter RAO must also divest Saratovenergo if it continues to hold its stake in TGK-7 after four years.
In the case of Kuban Energy Retail Company, Inter RAO must reduce its stake below 25% in the course of six months and sell off the stake entire within four years.
The retail company deals presume that Inter RAO will exit the Rosenergoatom group within four months. That requirement will be met in the supplementary share placement, when the stake in Inter RAO held by Rosatom and Rosenergoatom will fall below 15% from 57% currently, Inter RAO head Boris Kovalchuk said.
Acquisition of Tambov Energy Retail Company and Altaienergosbyt was approved unconditionally. In addition, the FAS set no conditions on Inter RAO's purchase of 100% of RN-Energo.
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