21.05.2012
A meeting of IDGC of the North-West, JSC management with a representative of Lazard Asset Management, LLC investment fund took place in Saint Petersburg, representatives of Enel are going to pay a visit to the Pskov Region branch of IDGC of the North-West, JSC.A meeting of IDGC of the North-West, JSC management with a representative of Lazard Asset Management, LLC investment fund took place in Saint Petersburg. Deputy General Director – Chief Engineer of IDGC of the North-West Georgy Turlov gave a brief account of core characteristics of the company.
In his turn, Ben Wolfson, Chief Portfolio Manager for Emerging Markets of Lazard Asset Management, communicated that his company annually allocated USD 40 bln for operation in new markets, 8–9% of the sum invested in Russia. Investment objects the fund is interested in are companies displaying a high rate of return and incomes growth.
In the course of the negotiation one touched upon the issue of the natural monopoly tariff policy in Russia, the “last mile” problem and plans for the distribution grid complex privatization. The investors also were eager to know of IDGC of the North-West dividend policy and investment program and the major problems faced by the company.
Among the meeting participants were: analyst of Bank of America Merrill Lynch Kristina Kornich, Deputy General Director for Economy and Finance Olga Makarova, Deputy General Director for Corporate Governance of IDGC of the North-West Anatoly Kushnerov, Deputy General Director for Capital Construction of IDGC of the North-West Sergey Titov, Head of the Tariffing Unit Valentin Chesnokov.
Meanwhile, representatives of Enel are going to pay a visit to the Pskov Region branch of IDGC of the North-West, JSC during May 23–24. The Italian delegation is to visit several substations of Pskovenergo branch, inspect the central control station and meet with the branch management. For reference: in March 2012 Enel delegation had a meeting with the company managers at IDGC of the North-West central office in Saint Petersburg and expressed their desire to pay a visit to one of the regional branches.
