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 shareholders of EL5-Energo will consider the merger with VDK-Energo and Lukoil-Ecoenergo on December 26, the company said.
“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)
