27 May 2004 08:42
FORTUM COULD INCREASE STAKE IN LENENERGO
ST. PETERSBURG. May 27 (Interfax) - Fortum Power and Heat Oy of Finland could increase its stake in Russian power
company Lenenergo, Fortnum President Mikael Lilius told the press in St. Petersburg on Thursday.
If the terms for increasing the Fortum stake are favorable, the concern will not set any limits, he said.
Fortnum now owns about 21% of Lenenergo, reflecting the confidence Fortum has in the Russian power company and its
development strategy, Lilius said.
As reported earlier, the Fortum completed the acquisition of 5.1% of the Lenenergo stock earlier this month, boosting
its stake in the Russian power company from 15.9% (18.6% of voting stock) to 21% (20.7%).
Lenenergo has charter capital of 897.36 million rubles, split into 766.03 million common and 131.33 million preferred
shares with par value of 1 ruble.
Unified Energy System of Russia owns 49% of Lenenergo and foreign shareholders own about 40%.
[Interfax] |
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