The Board of Directors approved the termination of RusHydro’s participation in Upper Naryn HPPs CJSC by selling 2.5 million of its ordinary registered shares, or 50 percent of the share capital, in favor of Electric Stations OJSC at a price determined on the basis of an appraiser’s report. The decision was made at a meeting of the Board of Directors.
RusHydro Company demands to take its share in the joint venture to the ownership of Electric Stations OJSC. The Kyrgyz side must pay RusHydro its costs. On October 31, the company filed a claim against Kyrgyzstan with international arbitration, objections to which can be submitted until April 15, 2019.