Moscow, 1 August 2006. The Board of Directors of OAO "WGC-3"* has selected the consortium of investment banks, Deutsche Bank and Goldman Sachs, as arrangers of the company's additional share offering.
The consortium has been selected as a result of the competitive negotiations held by WGC-3. Bids were accepted from 10 June through 17 July from firms with a successful track record in arranging large (over $100 million) additional stock issues for Russian companies on the local and international stock exchanges, as well as experience of working on the Russian and international securities markets.
Debevoise & Plimpton were selected as legal advisor to WGC-3 to provide support in the additional share issuance.
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* The Board of Directors of RAO "UES of Russia" approved the establishment of OAO "WGC-3" as its wholly-owned subsidiary at the Board meeting held 1 October 2004. The intended structure of OAO "WGC-3" was finally formed on 1 April 2006. OAO "WGC-3" was registered with the state authorities on 23 November 2004 in the Republic of Buryatia. The Director General of OAO "WGC-3" is Maxim Kuznetsov. OAO "WGC-3" comprises Kostromskaya, Pechorskaya, Kharanorskaya TPP, Gusinoozerskaya TPP, and Yuzhnouralskaya TPP.
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