13 May 2004 18:58
MINISTRY APPROVED SALE OF KRASNOYARSK POWER PLANT STAKE
MOSCOW. May 13 (Interfax) - The Russian Anti-monopoly Ministry approved an application from Hellington Commodities
Limited (Cyprus) in March 2003 to acquire 53.28% of shares in OAO Krasnoyarsk Hydroelectric Plant, according to an
Anti-monopoly Ministry conclusion made available to Interfax.
The Anti-monopoly Ministry conclusion from March 13, 2003 notes that the application was approved in accordance with
the Russian law on competition from 1991.
However, Oleg Kharchenko, deputy director of the Southern Siberian territorial division of the restructured
Anti-monopoly Ministry, told Interfax earlier that the ministry's Southern Siberian division opened a case against
Hellington Commodities Limited on May 6 over an administrative violation. He said that the case was opened over the
violation of article 18 of the law on competition and that one possible outcome is that the Anti-monopoly
Ministry's department may order the annulment of the deal, as the company did not seek permission from the
anti-monopoly authorities.
In January this year OAO Krasnoyarsk Hydroelectric Plant announced that the share of Hellington Commodities in the
company's charter capital had reached 53.28%.
Russian Aluminum controls about 70% of shares in OAO Krasnoyarsk Hydroelectric Plant, Krasnoyarskenergo owns over 25%
of the plant's shares.
[Interfax] |
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