Interfax quoted Mr Oleg Budargin FGC UES chief is quoted as saying that the board of directors of OJSC Federal Grid Company UES will consider the acquisition of Far East Distribution Grid Company in the near future.

The press release does not indicate the date on which the board of directors will meet.

Mr Budargin said a merger between FGC UES and DRSK has been under discussion for several years, and now the time has come to put an end to the discussions. He said that "Today, with the unification of the power grid complex, a merger with Far East Distribution Grid Company would be totally logical. The management board will put the issue of acquiring DRSK up for discussion by FGC UES' board of directors in the near future."

DRSK is fully owned by OJSC Far Eastern Energy Company which in turn is 51.03% owned by OJSC RAO Energy System of East. The combined length of the grids managed by DRSK is about 55,000 kilometers, and the number of serviced substations is around 700. These facilities are located in the Amur region, the Primorye and Khabarovsk territories, the Jewish Autonomous District and the south of Yakutia.

Source - Interfax

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