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Rosseti South and Rosseti Kuban has completed their merger

The Rosseti Group of Companies has completed the reorganization of companies operating in the transmission and distribution of electric power in the Southern Federal District, as a result of which Rosseti Kuban, JSC ceased operations and merged with Rosseti South, PJSC. The corresponding changes have been made to the Unified State Register of Legal Entities. The decisions taken will improve the efficiency of the management system and eliminate duplicative functions. The production personnel of Rosseti Kuban, JSC will continue to work in the new branch of Rosseti South, PJSC – Kubanenergo.

The Rosseti Group of Companies maintains its course towards increasing efficiency.  Rosseti South, PJSC and Rosseti Kuban, JSC have historically worked closely with each other in the Southern Federal District. "Thanks to synergies, improved results will be achieved, which will positively impact the development of the electric grid complex in the southern regions of Russia, where more than 14 million people live," noted Andrey Ryumin.

Rosseti South, PJSC will be responsible for supplying electricity to consumers in the Rostov, Astrakhan, and Volgograd regions, the Republic of Kalmykia, as well as in the Krasnodar Territory, the Republic of Adygea, and the federal territory of Sirius, where the Kubanenergo branch will operate.

Decisions on reorganization were previously made by the General Meetings of Shareholders of Rosseti Kuban, JSC and Rosseti South, PJSC. The Board of Directors of Rosseti, PJSC approved the termination of the Company's participation in Rosseti Kuban, JSC.

Upon the merger, ordinary shares of Rosseti Kuban, JSC were converted into ordinary shares of Rosseti South, PJSC in accordance with the coefficient approved by the decisions of the General Meetings of Shareholders of both companies. All rights and obligations of Rosseti Kuban, JSC were transferred to Rosseti South, PJSC.

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