OJSC SUEK announces intention to demerge its power generation business

OJSC Siberian Coal Energy Company (OJSC SUEK) announces that it intends to de-merge its power generation business, substantially represented by its shareholdings in OJSC Kuzbassenergo (TGK-12) and OJSC Yenisei TGK (TGK-13).

The intention of undertaking the de-merger is to streamline the operational and capital structures of OJSC SUEK and the power generation business.

Upon completion of the de-merger, OJSC SUEK's power assets will belong to Siberian Energy Investments Ltd. - a holding company in which a controlling stake will be directly owned by OJSC SUEK's major shareholder, Donalink Ltd. - and OJSC SUEK's business will be fully focused on the production of coal.

OJSC SUEK will announce the details of the de-merger upon the completion of the process, which is expected to be by the end of Q2 2011.

 

15.04.2011   

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