FGC UES may buy Bashkortostan Power Grid Company from Sistema

MOSCOW, Jun 29 (PRIME) -- Federal Grid Company of Unified Energy Systems (FGC UES) is holding preliminary talks on a possible purchase of Bashkortostan Power Grid Company presently owned by multi-industry holding Sistema, FGC CEO Andrei Murov said at an annual general meeting of shareholders on Thursday.

“(FGC UES) is indeed in talks with Bashkortostan Power Grid Company’s management… if the negotiations are a success, we may propose an (asset purchase) concept to the federal authorities, first, to the Energy Ministry, in autumn,” he said.

He added that his company is interested only in main grids, as law prohibits it from operating distribution grids.

The Bashkortostan Republic Arbitration Court arrested 90.47% of Bashkortostan Power Grid Company shares as part of a 170.6 billion suit filed by oil major Rosneft against Sistema.

End