Enel noted that, in particular, according to the checks carried out by the relevant Russian bodies, the shares tendered into the public tender offer (PTO) launched by Enel Investment Holding (EIH) amounted in all to 22.65% of OGK-5’s share capital.
Such shares added to the 37.15% shareholding in OGK-5 already owned by EIH ahead of the launch of the PTO, allow currently EIH a total ownership of 59.80% of OGK-5’s share capital.
The consideration offered by EIH under the PTO is equal to RUB4.423 per share fully payable in cash, for a total expense of approximately RUB35.47 billion, financed with existing credit lines.
Taking into account the acquisitions of OGK-5 shares carried out in June and October 2007, the consideration paid by EIH to acquire the total shareholding currently owned in OGK-5 is equal to about E2.61 billion.
Fulvio Conti, CEO and general manager of Enel, said: We have been in Russia for a number of years now and, step by step, we have built an integrated presence covering the entire value chain, from the Yamal gas fields to the OGK-5 power stations, down to the sale of electricity.
