Federal Grid Company of Unified Energy System JOINT-STOCK COMPANY (MICEX: FEES) cancelled the acquisition of OJSC Dalnevostochnaya Raspredelitelnaya Setevaya Kompaniya from The Far Eastern Energy Company (MICEX: DVEC).
As of January 27, 2012, the Board of Directors of Far Eastern Energy Company approved the sale of The Far Eastern Energy Company. As of September 21, 2012, RAO Energy System of East agreed to sell OJSC Dalnevostochnaya Raspredelitelnaya Setevaya Kompaniya for RUB 13 billion. Purchase price has been reduced due to a recent restriction on power distribution rate indexation. As of November 14, 2012, an extraordinary general shareholders' meeting of Far Eastern Energy Company approved the transaction.
Federal Grid Company of Unified Energy System JOINT-STOCK COMPANY (MICEX: FEES) cancelled the acquisition of OJSC Dalnevostochnaya Raspredelitelnaya Setevaya Kompaniya from The Far Eastern Energy Company (MICEX: DVEC) December 27, 2012. Federal Grid Company of Unified Energy System JOINT-STOCK COMPANY cancelled this deal because the planned reorganization of the country's power grid complex and creation of the management company Russian Grids does not imply Federal Grid Company of Unified Energy System JOINT-STOCK COMPANY managing distribution grids.