Norilsk Nickel out of Kolenergo
Russian mining and metallurgy giant Norilsk Nickel has sold its stake in Kolenergo, the main power distribution company in Murmansk Oblast.
Norilsk Nickel earlier controlled a 24,87 percent stake in the company. The sale of the Norilsk Nickel stake is made in line with federal legislation, which prohibits companies to have ownership stakes in power generation, distribution and sales facilities in one region. Until October 2005, Kolenergo owned generation facilities, the power grid and electricity sales facilities in the region. The company today remains exclusively a power distribution company. Norilsk Nickel remains the owner of a 7 percent stake in regional power generation company TGK-1.
