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Chubais Hopes to Come Back with ˆ1 Bln
RAO UES CEO Anatoly Chubais launched Wednesday the fifth road show of the company targeted at foreign investors. The presentation starts in New York, moving to Stockholm and London afterwards. The analysts stake on the road show to funnel real money into the country’s generation. And their hopes appear well-justified. Foreign investors promised to provide ˆ1 billion, Chubais said before the trip.
The road show of Anatoly Chubais begins in New York, moving to Stockholm and London afterwards. Chubais will meet bankers from Credit Suisse, Morgan Stanley, Merrill Lynch, Goldman Sachs and Deutsche Bank and talk separately to representatives of the last two banks.
The sources say Chubais will tell bankers about a new wholesale market of electric power and reorganization of RAO UES. He is expected to explain how the power generation will pass to the private owners in the near future. Moreover, Chubais will have to give an account to investors (a few of them are holders of RAO UES) of the company's plans to tackle the dividend issue and swap preferred stocks of the energy holding for the common stocks of Territorial Generating Co. and Wholesale Generating Co.
Of interest is that details to be given to foreign investors somewhat differ from the ones announced in Russia. The road show promises, for instance, that the new wholesale market of electric power will enjoy complete freedom in 2009. But the dates given in Russia are not so optimistic. This market will become free in 2014, the Russians were told.
www.kommersant.com
All the Article in Russian as of Sep. 07, 2006
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