PRESS: Renova can cede T Plus to Gazprom JV, get blocking stake
MOSCOW, Jul 12 (PRIME) -- Owner of group Renova Viktor Vekselberg, now under the U.S. sanctions, wants to cede power producer T Plus to a joint venture (JV) with Gazprom and receive a blocking stake in it, business daily Kommersant reported on Thursday, citing sources with knowledge of the matter.
According to the sources, Renova has presented a layout of the energy assets merger to GazpromТs energy unit Gazprom Energoholding this week. Under the plan, Renova would contribute T Plus with a capacity totaling 15.8 gigawatts and would get a blocking stake in the joint venture, which it could sell to Gazprom in 2022Ц2025.
УRenova wants a clear-cut dividend flow from the deal,Ф a source said.
Renova is also are under the U.S. sanctions. RenovaТs aim is to counter the sanctions with this deal, Alyona Bachinskaya, project executive at law firm S&K Vertikal said.