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Stock market: Cir flies on rumors of an agreement for Sorgenia in Russia

There is talk of an imminent agreement between Sorgenia, a subsidiary of Cir, and the Russian Inter Rao Ues – The offer would be frozen pending the inauguration of the Energy Minister of the new Putin government – ​​But then the denial: “The Board of Cir has never discussed a similar hypothesis nor is it expected to deal with it in the near future”.

Stock market: Cir flies on rumors of an agreement for Sorgenia in Russia

Cir under the spotlight today in Piazza Affari, where the title gained more than two and a half points at the end of the morning. It is the voices that drag the actions on the subsidiary Sorgenia, on which there would be theinterest of the Russian Inter Rao Ues, currently in talks with the German Rwe to buy some of its plants, after having absorbed the minorities of some plants in Russia. However, the offer on Sorgenia would be suspended pending the inauguration of the energy minister of the new Putin government.

However, it comes from those directly involved denial. "Regarding the repeated rumors relating to possible changes in the shareholding structure of Sorgenia - Cir points out in a note - we specify that there are no agreements, that Cir's board of directors has never discussed a similar hypothesis, nor is it currently expected to deal with it in the future. Cir remains committed together with the management of Sorgenia to carry forward the development plans of the company which in 2011 managed to obtain solid management results in a difficult market context”.

Sorgenia, 52% controlled by Cir and 45% from Verbund, closed the 2011 financial statements with revenues of 2,1 billion euros, an Ebitda of 192,2 million euros and a net profit down to 15,6 million compared to 50,4 million in 2010, while the net financial position was negative by 1,6 billion, down by around 80 million euro compared to 1.745 million as at 31 December 2010.  

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