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The most realistic candidate for RusHydro’s capitalization is VTB - Ministry of Energy - EastRussia | Far East

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The most real candidate for capitalization of RusHydro is VTB - the Ministry of Energy

The problem of the debt of the subsidiary "RAO ES of the East", exceeding 80 billion rubles, is to be solved by the company "RusHydro"

The most real candidate for capitalization
The most realistic candidate for participation in the capitalization of RusHydro is VTB Bank, Russian First Deputy Energy Minister Alexei Texler told reporters on the sidelines of Innoproma 2016.

"I think that VTB is more than a real candidate," he said.

"RusHydro" intends to solve the problem of the debt of the subsidiary "RAO ES of the East", exceeding 80 billion rubles. Deal with this duty back in April 2015, instructed by Russian Prime Minister Dmitry Medvedev, TASS reported.

The first option suggested buying out 20% of the additional issue of RusHydro by VTB Bank for 85 billion rubles, but the final decision on a deal with VTB was never accepted.

Another option was offered by FGC UES. The company declared its readiness to buy 100% of JSC Far Eastern Distribution Grid Company from RusHydro, as well as pick up the state JSC Far Eastern Energy Management Company. This option was also not approved.

In May, 2016, it became known that the additional issue of RusHydro could be bought back by Rosneftegaz for 55 billion rubles (it manages state oil and gas assets). A source close to RusHydro confirmed that such an opportunity is being discussed. In case of realization of the transaction, Rosneftegaz would receive 15% RusHydro, while the share of the Federal Property Management Agency in the energy company would decrease from 66,8% to 60,7%. Later, the media reported that Rosneftegaz refused to buy out an additional issue of RusHydro.

RusHydro Group is one of the largest Russian energy holdings, uniting more than 70 renewable energy facilities in Russia and abroad. The largest shareholder of the company is the state (67,12% of the authorized capital).