Bryan Cave Leighton Paisner Russia advises Kuzbassenergo on acquiring a coal-fired power plant from Enel Russia

22.08.2019

Bryan Cave Leighton Paisner Russia, formerly Goltsblat BLP in Russia, is advising Kuzbassenergo, a subsidiary of Siberian Generating Company, a leading operator on the Russian electricity and thermal energy market, on acquiring the Reftinskaya GRES coal-fired power plant from Enel Russia.

The Parties signed an SPA and had the transaction terms approved by the seller’s shareholders at an extraordinary shareholder meeting on 23 July 2019.

Enel Russia’s 3,800 MW Reftinskaya GRES is the country’s biggest coal-fired power plant. Located in Reftinsky, Sverdlovsk Region, it is capable of meeting around 40% of the total regional demand for electricity.

The power plant’s value includes all movable and immovable assets, as well as stocks of coal, raw materials and spare parts. The transaction should be worth at least RUB 21 bn net of VAT, plus, subject to certain conditions, there will be additional payments totalling up to RUB 3 bn within five years of completion. 

The  Bryan Cave Leighton Paisner Russia team handling the mandate included: Partner Matvey Kaploukhiy, Senior Associate Oksana Orlovskaya, Associate Mikhail Erokhin and Junior Associate Anastasia Buryak (Corporate/M&A), Partner Yuri Chernobrivtsev and Counsel Inna Firsova (Real Estate and Construction) and Partner Evgeny Timofeev and Head of Tax Advisory Anna Zelenskaya (Tax). 

For a more detailed press-release, visit Enel Russia’s website at: https://www.enelrussia.ru/ru/media/press/d201907-enel-russias-extraordinary-general-shareholders-meeting-approved-reftinskaya-gres-sale.html 

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