The Board of Directors of RAO Unified Energy Systems today announced its intention to sell its 70 per cent shareholding in REN TV, the Russian television network, to Severstal, a Russian industrial Group. Earlier today RTL Group, Europe’s leading television and production group, announced the acquisition of the 30 per cent shareholding in REN TV from the founders Iren Lesnevskaya and Dmitry Lesnevsky. The transaction is subject to regulatory and corporate approvals.

Gerhard Zeiler, CEO of RTL Group, said: “The new shareholders will give REN TV the strength and stability to become one of the leading commercial channels in Russia. We look forward to working with Severstal to achieve our challenging goals.”
Alexey Mordashov, CEO of Severstal Group, said: “The fact that RTL Group, the leading German and pan-European media company is now coming to Russia is a very significant and strategically important event. I am convinced that this will further stimulate Russian-German economic relations. It also sends an important signal to the Western investment community: not only raw-materials sectors of Russian economy can be attractive for investments”.