OREANDA-NEWS. RAO UES, OJSC "Kuzbassenergo" and OJSC "SUEK" in collaboration with their financial adviser Deutsche Bank AG London have started preparation of public auctions on the sale of their shares in OJSC "Yuzhno-Kuzbasskaya GRES" and OJSC "Zapadno-Sibirskaya TEZ".

Divestment of RAO UES (22.97% of share capital in each power plant) and of OJSC "Kuzbassenergo" (50% + 1 share of share capital in each power plant) stakes in the share capital of the above mentioned companies was approved by the Board of Directors of RAO UES on 23 December 2005. This resolution was made pursuant to the requirements of anti-monopoly authorities in order to avoid the risk of creating a monopolistic position of OJSC "TGK-12" (which is going to consolidate the generating assets of OJSC "Kuzbassenergo" and OJSC "Altayenergo") in the wholesale electricity market.

In accordance with the resolution of the Board of Directors of RAO UES, the shares of OJSC "Zapadno-Sibirskaya TEZ" and OJSC "Yuzhno-Kuzbasskaya GRES" will be offered for sale as a single lot each at two public auctions.

In accordance with preliminary timeline, the public auctions will take place in March 2007.