Support The Moscow Times!

Electric Company Demerges

Bashkirenergo said Tuesday that it would buy out holders of its ordinary and preference stock who will not support a planned business demerger at 33.42 rubles ($1.15) and 25.39 rubles per share, respectively.

The company's board agreed Monday to demerge its electricity grid and power generation assets and hand control of the separate divisions to two main shareholders, state power group Inter RAO and Sistema.

The buyout price implies a significant discount to market — the ordinary stock last closed at 40 rubles, while the preference stock last traded at 30.5 rubles per share.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.