MOSCOW, March 14 (RIA Novosti) - A consortium of Germany's RWE and Russia's Sintez successfully bid $380 million in an auction on Friday to buy a 33.47% stake in the TGK-2 generating company from Russian electricity monopoly UES.
The territorial generating company unites assets in five regions of central and northern Russia. The deal brings the UES stake in the company down from 49.36% to 11.38%.
RWE is a German electric power and natural gas public utility company.
The Russian electricity giant has also sold a 34.06% stake in another territorial generating company, TGK-6, to Integrated Energy Systems (IES holding) for 9.98 billion rubles ($421.3 million).
TGK-6 operates in four Russian regions and in Mordovia in the Volga area.
Both deals were part of UES reforms in which generating assets are being privatized.
