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Main / News / Business news
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Anatoliy Chubais To Sell “Mosenergo” |
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03/03/2006
<FONT face=Verdana size=2><IMG height=99 src="/en/news/anlytics/chub.jpg" width=60 align=left border=0>RAO “UES of Russia” plans a large-scale sale of assets, which might be launched with the sale of “Mosenergo”. Already in 2006 the energy holding is likely to cede control over the Moscow energy system to Gazprombank which has long been dreaming about it and is ready to pay up to $1bn. However, at first the CEO of RAO UES Anatoliy Chubais intends to enlist the support of the president Vladimir Putin: their meeting is scheduled for February 8, 2006.<BR><BR>Before the energy sector reform “Mosenergo” was the country’s largest regional energy company, while now it owns only generating assets. RAO UES controls 50.9% of “Mosenergo”, Gazprombank – 25%, around 8% are held by the Moscow government. The company’s revenue in 2004 in compliance with the IAS reached 88.85bn rubles, net profit – 6.1bn rubles. <BR><BR>Chubais has long been underlining the necessity of attracting investors into the energy sector. However, until recently the officials believed that it is too early to speak about privatization yet. </FONT>
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