Russia’s Federal Antimonopoly Service (FAS) sustained the petition placed by Territorial Generating Company 9 (TGK-9, part of IES Holding) regarding the purchase of a 100% holding of voting shares in Territorial Generating Comapny 6 (TGK-6), FAS reprots.

The agency provided a special decree for TGK-9 (valid for five years) in case the deal goes through.

For one, FAS made it obligatory for TGK-9 to inform them of the transaction coming into effect within a ten-day period and to sell the power generating facilities at Novokuibyshevskaya Power Station 1 and Novokuibyshevskaya Power Station 2 to some companies that are neither IES members nor its affiliates (and not affiliated to one another) within two years of the transaction coming into effect (before January 1, 2015 in any case).

The FAS also made it obligatory for TGK-9 to avoid any activity involving the power generating facilities at Novokuibyshevskaya Power Station 1 and Novokuibyshevskaya Power Station 2 that might result in a substantial price increase on the wholesale electric power market.