OREANDA-NEWS. June 18, 2008. RAO "UES of Russia" held a public auction to sell its 48.43 percent stake in OAO "Energosbyt Rostovenergo".

The public auction was arranged by the Agent - OAO "UEUK" - in accordance with the current laws of the Russian Federation and the resolutions of the Board of Directors of RAO "UES of Russia". Bids for participation in the auction were accepted from 2 June through 16 June of 2008, inclusively.

The auction start price was set at RUB 475 million. There were two bidders for the stake. It was sold to the highest bidder - OOO "Selskohozyaistvenny Torgovy Dom" (Agricultural Trading House) - for RUB 500.1 million.

After the auction RAO "UES of Russia" and the auction winner signed the Auction Protocol and the Share Purchase Agreement.