OREANDA-NEWS. The Board of Directors of RAO UES approved the sale of the shares held by RAO "UES of Russia" in its repair and maintenance subsidiaries -- OAO "ATP Yarenergo-Holding", OAO "Permenergoremont", OAO "Permenergospetsremont", and OAO "Sverdlovsk Energy Services Company".

In particular, the shares will be sold at an auction with a start price equal to the fair market value determined by an independent appraiser. Only bidders not affiliated with RAO "UES of Russia" or its SDCs will be allowed to take part in the auctions. However, these qualification criteria do not apply to minority shareholders of RAO "UES of Russia" and its SDCs.

Independent appraisers have determined the following fair market values for the R&M shareholdings: the 47.36 percent stake (10,253,240 ordinary shares) in OAO "AATP Yarenergo-Holding" is valued at RUB86.5 million; the 48.999988 percent stake (23,306,580 ordinary shares) in OAO "Permenergoremont" is valued at RUB97.665 million; the 48.999988 percent stake (23,306,580 ordinary shares) in OAO "Permenergospetsremont" is valued at RUB171.937 million; and the 48.999989 percent stake (341,718,216 ordinary shares) in OAO "Sverdlovsk Energy Service Company" at RUB348 million.