STS Corporation LLC made a stock buy-out offer to the shareholders of OJSC Kurganenergo. The offer price is RUB 34.78 per security, Kurganenergo informed.
STS Corporation currently owns 98.1% in Kurganenergo.
OJSC Kurganenergo (tax number: 4501013657) is being managed by IDGC of Urals.
Interregional Distribution Grid Company of Urals (IDGC of Urals, tax number: 6671163413) is a unified operational company of the Ural region managing the distribution network complexes of Sverdlovsk, Chelyabinsk, Kurgan regions and Perm area. The total activity area of the company is 514 thousand sq. km with the population exceeding 12 million. IDGC of Urals is responsible for over 150,000 km of cables and overhead power transmission lines, 36.3 thousand electric power substations with a total installed power over 52 thousand MVA.
As of October 31, 2010 the authorized capital of IDGC of Urals is RUB 8.743 billion represented by 87,430,485,711 common shares at par value of RUB 0.1. OJSC IDGC Holding owns 51.52% of the company's authorized capital.
Net profit (IFRS) of OJSC IDGC of Urals for H1 2012 decreased 18.8-fold to RUB 168.372 million from RUB 2.664 billion for the same period last year.
According to the information and retrieval system DataCapital, net profit (RAS) of OJSC IDGC of Urals for 9 months 2012 decreased 4.08-fold to RUB 573.097 million from RUB 2.338 billion the year before. Revenue decreased by 0.96% to RUB 39.495 billion from RUB 39.879 billion, sales profit by 2.4% to RUB 3.620 billion from RUB 3.710 billion, pre-tax profit 4-fold to RUB 635.260 million from RUB 2.604 billion.