En+ Group Completes Acquisition of 40.29% in Irkutskenergo from Inter RAO
En+ Group completed the transaction to acquire 40.29% in JSC Irkutskenergo from PJSC “Inter RAO” and “Inter RAO Capital” (100% subsidiary of PJSC “Inter RAO”).
The shares are purchased by Telmamskaya HPP LLC, a subsidiary of En+ Group’s EuroSibEnergo. The acquisition price is RUR70 bln payable in cash by installments, with a syndicated loan attracted from Sberbank and VTB 24 (PJSC).
Maxim Sokov, CEO of En+ Group (owns 100% in EuroSibEnergo) commented: “We shall be able to commence evolving into a unified operating company now that we complete the acquisition of the shares in JSC Irkutskenergo. This will provide much stronger positions for the entire En+ Group, will get us an access to the capital markets and shall eventually enable us to implement our core investment projects. No doubt this will drive us closer to becoming a full-fledged peer to the world’s leading energy companies”.