OREANDA-NEWS. The Board of Directors approved the final phase of TGC-8 establishment, which envisages the merger of OAO "Kuban Generation Company" with and into OAO "Southern Generation Company TGC-8".

By now, TGC-8 has completed the first phase of its reorganization. At this phase, OAO "Rostov Generation Company", OAO "Stavropol Heat Generation Company", OAO "Volzhskaya Generation Company", OAO "Astrakhan Regional Generation Company", and OAO "Dagestan Heat Generation Company" merged with and into TGC-8.

RAO "UES of Russia" holds a 48.99 percent interest in OAO "Kuban Generation Company". In this connection, the merger of OAO "Kuban Generation Company" with OAO "TGC-8" is subject to approval of minority shareholders.

If the shareholders of Kuban Generation Company vote against the proposed merger, it is planned that, at the final phase of establishment of OAO "TGC-8", the company's authorized capital will be increased through private placement of ("closed subscription" for) additional shares.