OREANDA-NEWS. August 4, 2010. IDGC of Centre acquired 51 % of shares of “Yaroslavl Urban Electric Grid”, JSC (“Yargorelektroset”, JSC) which was in municipal ownership of Yaroslavl city. Transaction amounted to 690 million Rubles.

Evgeny Makarov, General Director of IDGC of Centre, noted: “Buy-out of “Yargorelektroset”, JSC is perfect example of Policy on Integration of Power Grid Complex being conducted in the Company. I am sure, that creation of unified centre of responsibility will positively result in quality of rendering of services to the Company clients and will allow to introduce power grid complex of Yaroslavl city to breakthrough level. Integration of assets in unified complex creates conditions for providing single approach in implementation of technical policy of the Company, dispatching management, introduction of power-saving technologies and will result in increase of reliability of power supply”.

As a result of settled transaction IDGC of Centre controls now over 90 % of assets of power grid complex of Yaroslavl region.

The transaction was approved by Federal Antimonopoly Service of the Russian Federation, as well as by Board of Directors of IDGC Holding, JSC and IDGC of Centre.

Acquisition of profile highly liquid asset in one of the most quickly developing regions of Russia will positively tell on capitalization of the Company. The transaction is one of the largest in modern history of the power grid complex of Russia. Its value exceeds 1,5 % of total assets of IDGC of Centre.