Inter RAO and EuroSibEnergo signed an agreement for sale of Irkutskenergo shares

Мая 18, 2016

PJSC Inter RAO and its wholly owned subsidiary Inter RAO Capital signed agreements for sale of 40.29% of PJSC Irkutskenergo shares owned by them. The buyer is Telmamskaya HEP, a subsidiary of JSC EuroSibEnergo.

The transaction amount is RUB 70 billion. The payment will be made by money transfer.

The transaction will be closed after each party obtains required corporate approvals – from the Board of Directors of PJSC Inter RAO and the only participant of LLC Telmamskaya HEP.

“Inter RAO Group completed implementation of the program for disposition of minority interests,” said Chairman of the Management Board of PJSC Inter RAO Boris Kovalchuk. “As a result, the Group’s revenue from selling of minority interests amounted to RUB 127 billion. These funds were allocated both for implementation of a large-scale investment program for construction and upgrading of generating assets in Russia and for development of the power supply segment.”