On July 17, meetings of the Boards of Directors took place in all distributive grid companies of the region, where the schedule of companies reorganization was approved.

Distributive grid companies of IDGC of the North-West initiated the procedure of reorganization by their consolidation with IDGC of the North-West.

On July 17, meetings of the Boards of Directors took place in all dependant companies, where the schedule of reorganization of companies was approved.

Inventory of property, rights and financial obligations of the distributive grid companies and IDGC of the North-West, as well as definition of the market cost of shares of the distributive grid companies and shares swap ratio, is planned to be carried out at the first stage of reorganization. Estimation of cost and calculation of ratios will be performed by an independent appraiser.
"Reorganization of IDGC of the North-West is included into the number of priorities of the companies’ activity for the next year. We plan to hold the first stage this year. Reorganization of IDGC of the North-West should be completed in the middle of 2008", Deputy Director General for Corporate Governance of IDGC of the North-West Anatoly Kushnerov said.

Task groups will be formed in IDGC of the North-West and distributive network companies, which will approve detailed plan schedules of reorganization in compliance with directions of activity and to provide their execution. Task group of IDGC of the North-West is headed by Anatoly Kushnerov.