Perm Energy Sales Company - PermEnergoSbyt

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On December 4, 2007 RAO UES sold its 49% equity stake in Perm Energy Sales Company (PermEnergoSbyt) to a private investor as part of the energy sector reform to allow competition and bring in investments in the sector. PermEnergoSbyt was an energy sales company engaged in the electricity distribution serving residential and industrial consumers in Perm Oblast with population of 3 million people. RAO UES of Russia sold the 49% stake in the company through a public auction to Center Nadezhnosti, the company which represented regional investors, which offered the highest price or US$51.36 and won the auction. Integrated Energy Systems held about 36% share in PermEnergoSbyt. The rest was held by minority shareholders including other private shareholders of PermEnergoSbyt. Those shares were transferred to private owners through the Russian voucher privatization program which partially divested the regional utilities (Energos) in 1993. utility website http://www.energos.perm.ru/ no information on other bidders check on sponsor