FGC shareholders approved the merger of Rosseti
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Shareholders of the Federal Grid Company (FGC), which manages the main power grids, approved the reorganization in the form of a takeover of Rosseti. A decision was also made to increase the company’s authorized capital by placing an additional 1.749 trillion shares in the amount of 874.4 billion rubles.
On July 15, the board of directors of Rosseti and FGC decided to merge the companies on the basis of the latter. As Kommersant noted, in the future, interregional grid companies will join the organized structure. As a result of the merger, the state’s share should be at least 75%. The merger was reportedly scheduled to be completed in early 2023.
Rosseti is one of the largest electric grid companies in the world. Most of its shares (88.04%) belong to the state. It manages 2.4 million km of power transmission lines, 528 thousand substations. Rosseti is the main shareholder of FGC. She owns 80.13% of the company’s shares.
Read more about the reorganization of companies – in the material “Kommersant” “Grids are being prepared for power transmission”
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