RUSSIAN DEAL

Subscription required

As a guest you can read up to 3 full articles before a subscription is required.

You can read a further 2 articles for free.

Subscribe Now, Sign up for a Free Trial, Log In

* 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).