Thursday, November 23, 2006
UES to privatise Russian energy businesses; already holding talks with E.On, Fortum and AES
RAO Unified Energy Systems (UES), the Russian electricity monopoly, will privatise its power plants next year, Handelsblatt reported. The head of UES, Anatoly Chubais, confirmed that the power plants will be fully privatised and talks with listed German energy company E.On, Italian Enel, Finnish Fortum, US AES as well as Kazakh and Chinese companies are already being held. He added that many foreign energy companies are expected to be interested in acquiring stakes larger than 51%. Chubais mentioned that in his opinion 20 energy companies are going to be listed at the stock exchange by end of next year.
Unnamed sources from the industry sector in Moscow claimed that E.On would like to take over stakes in up to four unidentified power plants. The report noted that UES hopes to generate up to USD 10bn from the privatisations. UES is 52% owned by the Russian government.
Source Handelsblatt
Unnamed sources from the industry sector in Moscow claimed that E.On would like to take over stakes in up to four unidentified power plants. The report noted that UES hopes to generate up to USD 10bn from the privatisations. UES is 52% owned by the Russian government.
Source Handelsblatt
