OREANDA-NEWS. RAO "UES of Russia" announced a public auction to sell 49 percent shares in OAO "Kuban Energy Retail Company" scheduled for 21 May 2007. Bids will be accepted from 7 May to 18 May 2007.

The auction reserve price for the stake in OAO "Kuban Energy retail Company" was set at RUB850 million taking into account the valuation report prepared by an independent appraiser. The price increment will be RUB50 million.

The auction will be arranged by OOO "Metropol Investment and Finance Company", an Accredited Agent of RAO "UES of Russia". Both Russian and foreign legal entities and natural persons are invited to take part in the auction. The highest bidder will be named the winner.