Russia's Federal Antimonopoly Service granted the application of JSC Krasnoyarsk Hydro-Power Station for the purchase of a 90.9091% equity stake in Russky Kremny LLC, the regulatory body informed.
The transaction applied for will not restrict competition, the competition authority points out.
Russky Kremny LLC (Moscow) manufactures plastics and synthetic resins in primary forms.
JSC Krasnoyarsk Hydro-Power Station (tax number: 2446000322) is the second most powerful station in Russia (the installed power being 6,000 MW) which is in the Top 10 of the largest hydroelectric plants worldwide. Its long-term average annual generation is 18.25 billion kWh covering half of Krasnoyarsk Krai's demand for electric power.
IFRS net profit JSC Krasnoyarsk Hydro-Power Station for H1 2013 dropped by 43.14% to RUB 779.399 million from RUB 1.371 billion for the same period in 2012. Revenue decreased by 10.98% to RUB 2.089 billion from RUB 2.347 billion, profit from operations by 32.5% to RUB 874.716 billion from RUB 1.296 billion, pre-tax profit by 40.7% to RUB 1.012 billion from RUB 1.707 billion.
According to the DataCapital information retrieval system, RAS net profit of JSC Krasnoyarsk Hydro-Power Station for 9 months 2013 increased by 50.65% to RUB 1.835 billion from RUB 1.218 billion the year before. Revenue increased by 15.91% to RUB 11.044 billion from RUB 9.529 billion, sales profit by 35.14% to RUB 2.237 billion from RUB 1.656 billion, pre-tax profit by 46.74% to RUB 2.385 billion from RUB 1.625 billion.