JSC FGC UES and VTB Capital have signed a cooperation agreement. The ceremony took place during the International Economic Forum in Saint Petersburg. The agreement has been signed by Oleg Budargin, Chairman of the Management Board of JSC FGC UES and Yuri Soloviev the First Deputy President and Chairman of the Management Board of VTB Bank, Chairman of the Board of Directors of VTB Capital holding companies.
This agreement develops on the previous agreement between JSC FGC UES and VTB Capital on 14th April 2010. It confirms mutual interest of the parts in developing bilateral relations aimed at the realization of state policy in power industry, financing JSC FGC UES investment programme and creation of the conditions for increasing JSC FGC UES shareholders equity. Both parts of the agreement regard each other as strategic partners.
“The Federal Grid Company pays significant attention to developing a long-term relationship with Russia’s major financial institutions to help finance the company’s large investment programme. That is why VTB Capital’s knowledge and experience on the financial markets are very important for us” – said Oleg Budarin Chairman of the Management Board of JSC FGC UES.
In the framework of the agreement, VTB Capital has defined its readiness to provide JSC FGC UES with a wide range of investment banking services including equity and debt capital market instruments, issuing derivatives, strategic consulting on the financial markets and in M&A deals.
“Working with the energy industry is one of our key priorities. VTB Capital uses a comprehensive approach when working with its clients to provide the widest range of investment banking services to fulfill the financing needs of JSC FGC UES projects”, – said Yuri Soloviev the First Deputy President and Chairman of the Management Board of VTB Bank, Chairman of the Board of Directors of VTB Capital holding companies.
For all areas covered in the document, there will be a separate decision according to the bilateral agreements, JSC FGC UES tendering procedures and federal legislation, including antimonopoly.
The agreement takes effect from the date of its signing and will remain in force for a year with potential for further prolongation.
Head of Press