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9 Apr, 2008 10:24

RAO UES reveals spin-off plans

RAO Unified Energy Systems plans to sell four remaining generating companies within the next 100 days. UES Chief Anatoly Chubais has confirmed that the assets would only be sold at a “proper” price.

Sixteen generating companies have already been sold, and now the disposal of the wholesale generating company OGK-1 is on the agenda. RAO UES is searching for buyers for its remaining assets on the threshold of its delisting.

Chairman of the Management Board of UES, Anatoly Chubais, declared there was only one buyer, but it was “high-powered”. Chubais said they were “not going to sell cheap”.

Victor Vekselberg's company Integrated Energy Systems (IES), Mikhail Abyzov’s Group E4 and Basic Element owned by Oleg Deripaska are seen among potential buyers.