Power monopoly UES to sell Moscow office for $175 mln

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MOSCOW, February 29 (RIA Novosti) -- Unified Energy Systems (UES) intends to sell its main office building in Moscow for $175 mln, the utility giant's chief executive said on Friday.

Anatoly Chubais said the building, which was bought in 2000 for $30 mln, is now worth at least $175 mln.

"We hope to make a deal on these terms," he said.

The buyer for the building, located in western Moscow, will be determined by competitive bidding. There are an estimated 4,000 potential buyers both in Russia and abroad, including development and investment foundations and holdings.

UES said earlier today it will hold its final shareholder meeting before restructuring on May 28.

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