- From: Vol 9, Issue 6 (June 2008)
- Category: Need to know
- Region: Unspecified
- Country: Russian Federation
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* The EBRD is looking to deepen its involvement with Russian Communal Systems (RKS) by taking a minority equity stake in the company.
Initially, the bank is providing a loan of up to RUB 3.1 billion (USD130 million) to Indville Management Ltd., controlled by Integrated Energy Systems, in order to fund the purchase of a stake of 25% plus one share in RKS from Russian state electricity company RAO UES. The deal could pave the way for the EBRD to take a direct stake in RKS, with whom it signed a contract re-balancing agreement earlier this year (see story p20).