VEB demands for 31.4 billion rubles from Inter RAO UES

In the market conditions of a lack of funds, state-owned companies’ resources conflicts have exacerbated: unexpectedly VEB has interrupted the moratorium on the collection of funds from Inter RAO UES, achieved with the participation of the Government. The state corporation requires the holding company to exercise the option on the repurchase of Inter RAO UES’ package for 31.4 billion rubles, which is currently worth no more than 5 billion rubles. The energy holding company doesn’t see such possibility and waits for help from the state.

VEB has required Inter RAO UES to execute a put option on the repurchase of 5.11% shares of the energy company from the state corporation for 31.37 billion rubles. The state corporation explained that "the option was made in accordance with the contract", it will be executed in "procedure agreed by the parties". According to the Kommersant’s sources, the VEB’s claim was signed on July 10th, 90 days are given to execute the option.