OREANDA-NEWS. On September 19, public auctions were held to sell the shares in energy retail companies owned by RAO "UES of Russia", the company's information service reports.

The auctions were arranged by an accredited agent of RAO "UES of Russia", OJS "Urals Energy Management Company". The bids had been accepted from September 3 through September 14,  2007. The following stakes were put up for sale: 49% of OJS "Bryansk Retail Company" with the reserve price of RUB375 million; 49.01% of OJS "Voronezh Energy Retail Company" (RUB300 million); 100% of OJS "Karelia Energy Retail Company" (RUB350 million); 50.11% of OJS "Komi Energy Retail Company" (RUB375 million ); 49% of OJS "Tver Energy Retail Company" (RUB550 million); 49% of OJS "Udmurt Energy Retail Company" (RUB500 million).

The reserve prices equal to the market value of the shareholdings were determined based on the report prepared by a consortium of independent appraisers.

Results of the Auctions:
1. The 100% stake in OJS "Kareila Energy Retail Company" was acquired by LLC "Transneftservis S" for RUB350 million.
2. The 49.01% stake in OJS "Voronezh Energy Retail Company" was acquired by LLC "KT Proekt Investment Company" for RUB300 million.
3. The 49% stake in OJS "Tver Energy Retail Company" was sold to LLC "Khronos" for RUB550 million.
Upon completion of the auctions, RAO "UES of Russia" and the auction winners signed auction protocols and the Share Purchase Agreements in respect of the shares in the energy retail companies.

The auctions to sell shares in OJS "Bryansk Retail Company", OJS "Udmurt Energy Retail Company" and OJS "Komi Energy Retail Company" were not held as the auctions participants failed to confirm the reserve price.