OREANDA-NEWS. September 04, 2007. Presently, an independent shares evaluation of the market shares value is being held in all DGC of the JSC “IDGC of the Center” service area within the framework of the power grid complex restructuring process in order to determine the price for further redemption, reported the press-centre of JSC “IDGC of the Center”.

The distribution grid companies’ Boards of Directors approved a consortium composed of “Ernst and Young – Cost Consulting” ltd, “ANPI Consult” ltd, “Offshore Valuation Center” ltd as the independent evaluation company. The evaluation is being held as of June 30, 2007.

“The independent evaluation should be completed by October 2007, - said Konstantin Kotikov, Deputy General Director on Corporate Management of JSC “IDGC of the Center”. – On the basis of the independent assessors’ conclusion, we should receive the DGC shares swap ratio to IDGC ones during the take-over process and a single item issue from the investment bank in the  IIIrd quarter of 2007.”

As previously stated, JSC “IDGC of the Center” will be formed as a unified operating (production) company with a comparable market value of  assets exceeding 30 bln rubles as a result of restructuring. It is planned to complete the formation of the JSC “IDGC of the Center” target structure by adding the distribution grid companies to it and by a single item issue. The RAO “UES of Russia” share in the authorized capital shall be no less than 50% + 1 share. It is planned to complete the IDGC restructuring in the form of take-over of the11 stated above DGCs no later than the third quarter of 2008.