MOSCOW (Reuters) -Russian power company EL5-Energo, which is majority controlled by oil major Lukoil, said on Wednesday that it planned to merge with two of Lukoil's other power assets. The
Lukoil's EL5-Energo Plans Merger with Two Power Subsidiaries
EL5-Energo Merger Overview
MOSCOW (Reuters) -Russian power company EL5-Energo, which is majority controlled by oil major Lukoil, said on Wednesday that it planned to merge with two of Lukoil's other power assets.
Details of the Merger
The shareholders of EL5-Energo will consider the merger with VDK-Energo and Lukoil-Ecoenergo on December 26, the company said.
Shareholder Buyout Proposal
"The acquisition of new assets and their effective management will become a key driver of EL5-Energo's business growth," the statement said.
It said that the board of directors proposes to buy out shares from shareholders who disagree with the deal at price of 0.5653 roubles ($0.0070) per share.
($1 = 81.3000 roubles)
(Reporting by Anastasia Lyrchikova; Editing by Guy Faulconbridge)
