Russia’s UES has announced forthcoming auctions to sell mostly minority stakes in seven energy retail companies by the end of May.
The 49% shares in the Nizhny Novgorod Retail Co, Sverdlovenergosbyt, Kuzbass Energy Retail Co, Belgorod Retail Co and Vologda Retail Co, will join a 49.2% shares in the Kolskaya Energy Retail Co, and all of Orenburgenergosbyt.
The retail companies, along with the Kuban Energy retail Co which is to be sold at a later date, belong to a group of eight that comprise the first tranche to be sold.
The reserve price public auction will be held on 22 and 23 May 2007, bids will be accepted from through 22 May and both Russian and foreign entities may take part.
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