Former electricity monopoly RAO Unified Energy System of Russia (EESR.RS), or UES, Wednesday said that gas monopoly OAO Gazprom (GAZP.RS) has acquired 100% of electricity supply company Tyumenenergosbyt for 5.7 billion rubles ($241.1 million).
The starting price for the asset, which UES spun off as part of the wider electricity sector reform, was RUB3.62 billion.
Gazprom bought Tyumenenergosbyt through its unit Mezhregiongaz, UES said, adding that there were two bidders. It didn't name the second one.
Gazprom has a vast power generation and distribution portfolio and is one of the largest players in the Russian electricity market, emerging as UES heads toward its demise July 1.