Head of the United Energy Systems of Russia (RAO UES) Anatoly Chubais takes away the nameplate from his office in view of the liquidation of the company.
Photo: ITAR-TASS
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RAO UES Wound Up at Advantage
RAO UES of Russia doesn’t exist starting from today. The farewell of its CEO Anatoly Chubais was really impressive. The top manager announced yesterday the sale of the last big energy company, OGK-1, for $5.3 billion. The buyer is the little known Roskommunenergo and the names of final beneficiaries haven’t been disclosed.
RAO UES of Russia that had been set up far back in 1992 ceased to exist June 30, 2008. Its CEO Anatoly Chubais staged a farewell show yesterday. Chubais personally removed the nameplate from the door of his office and ordered to maintenance workers to pull down RAO letters from the central entrance of the company’s headquarters.
“RAO has been liquidated, but UES of Russia has remained to advance,” Chubais proclaimed Monday. After it, the colors of RAO UES were dipped and the flags of all companies created in the course of the reform were hoisted. The culmination was the announcement of disposal of the last big energy company, OGK-1.
According to Chubais, RAO UES has agreed with the government stake’s buyer represented by Roskommunenergo. The latter will pay $516 per 1 kW of installed capacity of OGK-1. “The offer was received and a sales contract was signed,” the top manager specified. “To confirm validity of intention, the buyer provided the Dubai World guarantee worth $100 million.” The Dubai fund will finance the deal, people in RAO UES explained, without disclosing the names of end beneficiaries.
www.kommersant.com
All the Article in Russian as of July 01, 2008
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