ChelyabEnergro JSC, Chelyabinsk Region networked energy supplier, does not possess any stake in the authorized capital of Energia CJSC (dealing in real estate) any more: this was part of RAO UES of Russia project aimed at its companies getting rid of assets non-core to the business.

The decision was made by the Board of Directors in the hope that selling the share holding would increase the profitability of their capital, build up on capitalization of earnings and attract more investments.

Besides, selling such assets will allow the company to significantly reduce expenses and use the resources for repairs, buying new equipment, and improving the stability of supply, the company’s spokesperson said to UrBC representative.