IDGC of Centre acquired 51 % of shares of “Yargorelektroset”, JSC

3 August 2010

Evgeny Makarov, General Director of IDGC of Centre, noted: “Buy-out of “Yargorelektroset”, JSC is perfect example of Policy on Integration of Power Grid Complex being conducted in the Company. I am sure, that creation of unified centre of responsibility will positively result in quality of rendering of services to the Company clients and will allow to introduce power grid complex of Yaroslavl city to breakthrough level. Integration of assets in unified complex creates conditions for providing single approach in implementation of technical policy of the Company, dispatching management, introduction of power-saving technologies and will result in increase of reliability of power supply”.
 
As a result of settled transaction IDGC of Centre controls now over 90 % of assets of power grid complex of Yaroslavl region.
The transaction was approved by Federal Antimonopoly Service of the Russian Federation, as well as by Board of Directors of IDGC Holding, JSC and IDGC of Centre.

Acquisition of profile highly liquid asset in one of the most quickly developing regions of Russia will positively tell on capitalization of the Company. The transaction is one of the largest in modern history of the power grid complex of Russia. Its value exceeds 1,5 % of total assets of IDGC of Centre.

For reference:
“Yargorelektroset”, JSC is the largest independent territorial grid organization of Yaroslavl region and one of the largest in Central Federal District. It provides transfer of electric power to the major part of the residential sector of Yaroslavl city, objects of cultural and everyday aspects of social life, industrial enterprises and a number of agricultural consumers. Existing scheme of urban power grid includes 53 distribution points, 43 of which are teleautomated, 960 transformer substations and 1050,7 km of aerial cable lines of 6-10 kv. Number of personnel is 445 people.

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