10:31 GMT +322 September 2018
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    Germany's E.ON closes deal to buy Russia's OGK-4 shares

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    MOSCOW, October 16 (RIA Novosti) - Germany's E.ON and Russia's Unified Energy System [RTS: EESR] signed a document to finalize the German power utility's acquisition of shares in Russian wholesale power generator OGK-4, UES said.

    E.ON now holds a 69.34% stake in OGK-4, which has a total installed generation capacity of 8,630 MW and incorporates five thermal power plants - one in Western Siberia, one in the Far East, two in Central Russia, and one in the Perm Territory in the Urals, UES said on Monday.

    E.ON paid over 146.3 billion rubles (about $5.9 billion) for the deal, of which OGK-4 received 46.4 billion rubles (about $1.8 billion), to finance its investment program of building new generating capacities, while the Russian government's share of 99.9 billion rubles (about $3.9 billion) will be used to cover the investment deficit of the Federal Grid Company and HydroOGK hydrogenerating company, UES said.

    Russia's electricity monopoly UES retained a 22.49% stake in OGK-4.

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