Ministry of Energy will give Inter RAO, whose board of directors headed by Deputy Prime Minister Igor Sechin, the state blocks of shares of energy companies worth $ 6.3 billion

Inter RAO pay off their shares. As a result, the share in the company of the state and under its control structures can grow from 57% to 82%, writes " Reuters " .

The draft decree on the transfer of Inter RAO UES "state-owned stakes in energy companies included in the government, said yesterday energy minister Sergei Shmatko. He said the power-will be paid in shares of one or two additional emission Inter RAO "," principled decision "on this has already been taken. The Minister did not explain when it signed the decree, but said that after the transfer of packets to be approved by the boards of directors of state companies, the balance of which are now in power generating assets.

Letter to the proposal to consolidate the remaining state-owned shares genkompany was sent to Vladimir Putin on Oct. 5, 2009 Vice-Premier Igor Sechin, served as chairman of the board of directors of Inter RAO. Premier agreed with this idea, after which the Ministry of Energy began its work (see "N" on October 16, 2009). It was about the transfer of shares remaining after the reform of RAO UES of Russia "on balance" RusHydro ", Federal Grid Company UES (FGC), the Federal Property Management Agency and Rosneftegaz.

In particular, in the list consisted of 26.43% stake in OGK-5 and 41% of Irkutskenergo, preserved by the Federal Property Agency, as well as 65,8% stake in OGK-1, 24.9% of TGC-6 and 34.21% of TGC- 7, 30.54% of TGC-11, 20.24% Kuzbassenergo, 21,27% Bashkirenergo, 14.48% Sangtuda-1 (these packages in varying proportions divided between FGC and RusHydro "), 100 % Razdan TPP (Rosneftegaz). Only the state's share in generation, which was not included in the list of consolidated assets - a 25.1% stake in TGK-5, this package is included in the government's privatization plan for 2010.

Inter RAO UES - Russia's monopoly on exports and imports of electricity. He speaks about 8 MW of generating capacity in Russia and abroad. The main shareholder - Rosatom (57%). By 2015, Inter RAO plans to increase capacity to 30 MW, the value - up to $ 14 billion company operates OGK-1 and TGC-11.

Part of the assets of Inter RAO has already managed to get. Company be managed by the proportion of "RusHydro and FSK in OGK-1. In addition, Inter RAO in February attracted more than 32,69% of shares of TGK-11 and exhibited an offer to acquire the remaining shares (including shares of FGC 30.54%).

Parameters of the additional issue of Inter RAO "necessary for the consolidation of all state-owned, not yet identified. In FSK explained that the assessment of energy assets on the balance of the company, not yet done - working together with Inter RAO is already underway, but the process is at an early stage. In Inter RAO and RusHydro refused to comment the situation. Representatives of the En + (controls 50.19% stake in Irkutskenergo) yesterday were unavailable for comment.

But predpravleniya RusHydro Yevgeny Dod, until November 2009 headed "Inter RAO, in March, assured Kommersant that he considered the idea of consolidating state-owned genkompany" only correct ". Top-manager noted that the received in exchange for shares of Inter RAO in the future will be profitable to sell and send the proceeds to the investment program of FGC and RusHydro.

According to senior analyst for information security "Opening" Paul Popikova, the value of shares intended for the "Inter RAO, yesterday was about 184.6 billion rubles. (Based on quotations MICEX). The most expensive are the shares in OGK-1 (40.26 billion rubles.) Irkutskenergo (37.5 billion rubles.) OGK-5 (25.4 billion rubles.) And the Volga TGC (17.5 billion rubles. ). Current capitalization of Inter RAO on MICEX was 133.7 billion rubles. According to the calculations of Mr. Popikova to exchange at market price would require additional issue of $ 3.14 trillion shares.

Technically, if the state control over Inter RAO and the absence of blocking other shareholders hold additional issue is not precluded from, believes Alexander Seleznev from Uralsib. The state share in a company as a result can grow up to 82%, said Paul parsons.

According to his calculations, the largest package will have FSK (31%), under the control of Rosatom will remain about 23% of the shares, Rosimuschestvo receive 19%, RusHydro - 7%, Rosneftegaz - 2%. Alexander Seleznev believes that large blocks of Inter RAO will be more liquid than small stakes in TGC and WGC, which is now largely owned by FGC and RusHydro. In the future, adds analyst, shares of Inter RAO could be sold to a strategic shareholder.