On September 12, Russia's Federal Antimonopoly Service considered the application of JSC Inter RAO UES for the acquisition of 100% of the voting shares in OJSC Altaikraienergo, the regulatory body informed.
The competition watchdog decided to grant this application.
OJSC Altaikraienergo (Barnaul, tax number: 2224132840) supplies electricity for 9.9 thousand enterprises of various forms of ownership and about 341 thousand individuals. The company serves 8.1 thousand kilometers of 0.4-110 kV transmission lines, 16 35-110 kV substations, 2.9 thousand transformer substations and 41 distribution points. Its total installed capacity is 953.1 MVA. The company comprises 9 branches operating inter-district electrical grids in Altai Krai. The regional property relations department owns 100% of the company's shares.
JSC Inter RAO UES (tax number: 2320109650) was established in May 1997 following the decision of the founder, OJSC RAO UES of Russia. It is the largest electric power export and import operator in Russia which manages numerous power assets in the Russian Federation and abroad. The total installed capacity of the company's power plants is about 33.5 GW.
The authorized capital of Inter RAO UES reached RUB 293.34 billion represented by 10,440,000,997,683 common shares at par value of RUB 0.02809767 each. The company's major shareholders are: CJSC Inter RAO Capital, a subsidiary of Inter RAO UES (13.93%), FGC UES Group (18.57%), the Federal Agency for State Property Management (13.76%), OJSC MMC Norilsk Nickel (13.21%), Rosatom Group (12.49%), Vnesheconombank (5.07%), RusHydro Group (4.92%).
IFRS net loss of JSC Inter RAO UES for H1 2013 grew by 37.71% to RUB 13.845 billion from RUB 10.054 billion the year before. Revenue increased by 20.91% to RUB 317.743 billion from RUB 262.799 billion, operating loss by 52.99% to RUB 9.793 billion from RUB 6.401 billion, loss before tax by 74.95% to RUB 15.184 billion from RUB 8.679 billion.
According to the information and retrieval system DataCapital, RAS net profit of Inter RAO UES for H1 2013 decreased by 8.74% to RUB 4.05 billion from RUB 4.438 billion the year before. Revenue grew by 1.83% to RUB 23.133 billion from RUB 22.716 billion, sales loss was RUB 386.216 million against a profit of RUB 162.255 million, pre-tax profit decreased 2.35-fold to RUB 3.704 billion from RUB 8.694 billion.