Rosseti told when they plan to complete the merger with FSK

VLADIVOSTOK, 6 Sep — PRIME. The merger of FGC and Rosseti is planned to be completed early next year, said Andrey Ryumin, head of Rosseti.

“The end of the reorganization – the beginning of next year, should be completed,” he said in an interview with the Rossiya 24 television channel as part of the Eastern Economic Forum.

In mid-July, Rosseti and their subsidiary FGC announced an impending merger on the basis of FGC, which now manages the main power grids. The merged company will be called Federal Grid Company – Rosseti, short name – Rosseti. Extraordinary general meetings of shareholders of the companies are scheduled for September 14 and 16 to make decisions on reorganization.

“We deliberately left the short name Rosseti in order to minimize rebranding costs. In this case, we will not have additional costs,” added Ryumin, who should become the head of the merged company.

According to him, the reorganization has been discussed since 2014, and various options were considered. “Decisions were made at the level of the president and the government of the Russian Federation, now we have finally come to the conclusion that we are uniting,” he said, expressing the hope that “the new company will be more efficient.”

The WEF takes place on September 5-8 on the campus of the Far Eastern Federal University on Russky Island in Vladivostok. RIA Novosti acts as the general media partner of the forum.