On August 22, OJSC SUEK-Krasnoyarsk acquired a 13.79% equity stake in OJSC Kuzbassenergo, Kuzbassenergo informed.
OJSC SUEK-Krasnoyarsk is under indirect control of Westline Private Trust Company Limited (Bermudas) through OJSC SUEK, SUEK Plc (Cyprus) and Madake Enterprises Company Limited (Cyprus).
According to the statement, SUEK-Krasnoyarsk had no equity position in Kuzbassenergo prior to this transaction.
OJSC Power Generation and Electrification Company Kuzbassenergo (tax number: 4200000333) ranks sixth countrywide in capacity and fifth in the amount of energy delivered to its consumers. It accounts for over 30% of the electric power generated by thermal power stations of united power systems of Siberia.
The company's authorized capital is RUB 706.76 million and is represented by 70,675,984,774 common shares at par value of RUB 0.01. The principal owner of the company is Siberian Energy Investments Ltd.
RAS net loss of OJSC Kuzbassenergo for H1 2013 decreased by 18.17% to RUB 506.177 million from RUB 618.565 million in H1 2012. Revenue dropped 2.24-fold to RUB 7.995 billion from RUB 17.939 billion, sales profit was RUB 465.653 million against a loss of RUB 66.874 million the year before, loss before tax decreased by 18.49% to RUB 574.081 million from RUB 704.284 million.