Inter RAO might purchase the additional issue of its affiliate for 20.48 bln roubles

​The Board of Inter RAO has approved the purchase of the additional issue of its affiliate – Inter RAO Capital – for up to 20.48 bln roubles.

“Approve the agreement on the purchase of shares of the additional issue of Inter RAO Capital as a deal or a few connected deals which lead to the obligations of Inter RAO PJSC at the volume equal or exceeding 5% of the balance value of assets of Inter RAO”, is reported. 242.595 mln shares are issued at 84.43 roubles/piece.

Inter RAO said that in June 2015 the company issued funds to Inter RAO Capital to settle its debt before “VTB Factoring” and “Mezhregionenergostroi” (controlled by Gazprom energy holding). Thus, issuing the additional issue, Inter RAO Capital will settle the debt before its head company by means of shares.

In June Inter RAO was reported to have paid to all its contractors by the deal on the purchase of the 2nd block of the Kaliningrad thermal power plant-2 closed in 2011. The participants of the deal confirmed that 13 bln roubles were transferred on the accounts of “VTB Factoring”, another 4 bln roubles – to Gazprom energy holding.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
12 Northfields Prospect; London, - SW18 1PE; United Kingdom
E 51° 27.454518" S 0° 14.101236"

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer