EnergoInvest LLC (Saransk city, Russia) acquired 83.95% of the authorized capital of OJSC Mordovskaya Energosbytovaya Kompaniya, the latter company informed.
Prior to that transaction, EnergoInvest had no voting shares in the power supply company.
It will be recalled that Energy of Development, Audit LLC (Samara) earlier withdrew from OJSC Mordovskaya Energosbytovaya Kompaniya selling its 83.95% equity stake in the company, as the property trust contract was terminated.
OJSC Mordovskaya Energosbytovaya Kompaniya (Mordovenergosbyt, English: Power Supply Company of Mordovia, tax number: 1326192645) was established on February 1, 2005 through a spin-off from the restructured OJSC Mordovenergo. The company is the principal power supplier in the Repulic of Mordovia selling 100% of the power in the region.
According to the information and retrieval system DataCapital, RAS net loss of OJSC OJSC Mordovskaya Energosbytovaya Kompaniya for 9 months 2013 grew 4.37-fold to RUB 72.968 million from RUB 16.685 million for the same period in 2012. Revenue increased by 6.6% to RUB 3.371 billion from RUB 3.162 billion, sales loss was RUB 33.786 million against a profit of RUB 37.651 million the year before, loss before tax was RUB 89.077 million against a profit of RUB 1.435 million.