En+ Group to transfer En+ Holding Limited to Russian jurisdiction - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

En+ Group to transfer En+ Holding Limited to Russian jurisdiction

MOSCOW, Aug 16 (PRIME) -- The board of directors of En+ Group of tycoon Oleg Deripaska has essentially approved a transfer of En+ Holding Limited, a subsidiary in charge of the groupТs power industry assets, from jurisdiction of Cyprus to one of RussiaТs special administrative regions, the company said in a statement on Thursday.

On August 6, a law came in force allowing re-registration of offshore companies in special administrative regions to minimize possible repercussions from sanctions of foreign states. The law determines aspects of functioning of the special administrative regions on the Russky Island near Vladivostok and in the Oktyabrsky Island near Kaliningrad.

УThe suggested change of jurisdiction will allow the company to use advantages of the new Russian legislation for foreign companies,Ф En+ said in the statement.

The board also ordered the companyТs management to study in detail possible redomiciliation into the Russian jurisdiction.

En+ also said quoting Board Chairman Greg Baker that optimization of the ownership structure would ensure transparency of the company in line with the global trend all falling dependence on offshore corporate management.


16.08.2018 13:34
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 71.5307 -0.2966 14 sep
USD 64.4711 -0.7198 14 sep
Stock Market Indices
1D 1W 1M 1Y
rtsi 1365.60 +0.33 18:40 13 sep
micex 2786.22 -0.49 18:40 13 sep
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 231.60 -0.55 16:49 13 sep
lkoh 5351.50 -1.44 16:49 13 sep
rosn 409.55 -0.61 16:49 13 sep
sber 232.92 -0.70 16:49 13 sep
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 71.1700 -0.6750 14:59 13 sep
USDTD 64.8000 -0.6025 17:44 13 sep