VTB has received more than 7% “Enel Russia” for the debts

Look at Sredneuralskaya GRES, branch of public joint stock company “Enel Russia”

VTB increased its share in OJSC “Enel Russia” with 0.26% to 7.69%, said Friday the power company. VTB increased its share in OJSC “Enel Russia” as part of the transition for the debts of the mortgaged asset, previously under – Fund”, explained RBC representative of the Bank. According to him, in the near future, this asset will be realized”.

According to a source close to one of the parties to the transaction, – Fund has transferred VTB of 7.43% “Enel Russia” as payment of part of the debt, the amount of which is almost 60 billion rubles. Other assets he did not name. On Friday on the Moscow stock exchange this package cost 1.7 billion rubles.

– Fund was formed by holding a “Discovery” in 2008 for investment in the reform of the power industry. The Fund bought shares of those minority shareholders of RAO “UES”, which did not agree with the reform and refused to convert their securities into shares of many new companies. To buy these shares, among other things, was a loan to VTB in 2008. The debt on this loan amounted to RUB 38.8 billion, more than 16.5 billion rubles. the Fund had to pay interest and 5.3 billion rubles of a penalty. In April 2015, the arbitration court of Moscow has satisfied claim VTB to Fund 59.8 billion rubles And in January 2016, the same court recognized the bankruptcy of the sole shareholder of this Fund “Energo Finance”.

Fund – owned shares “Enel Russia” through the consortium Partners Fund I Limited, which owned 26,43% energy companies (other members of the consortium of the RDIF and Macquarie Renaissance). Controlling stake belongs to the Italian Enel (56,43%), and about 10% of the Fund Prosperity Capital.

The revenue of “Enel Russia” for the first quarter of 2016 decreased by 6% to 17.6 billion rubles, net profit fell 4.3% to RUR 134.4 million rubles. the company owns the Konakovskaya, Nevinnomysskaya, Sredneuralskaya and Reftinskaya GRES.