MOSCOW (Pakistan Point News / Sputnik - 16th August, 2018) The board of directors of Russia's energy-related company En+ Group has approved in principle the transfer of its subsidiary En+ Holding Limited from the Republic of Cyprus to the Russian jurisdiction, the company is expected to be re-registered in one of Russia's special economic zones, the En+ Group said in a statement on Thursday.
The decision has been made after a package of laws allowing Russia-controlled foreign offshore companies to be re-registered in Russia entered into force on August 6, according to the company.
"The proposed change of jurisdiction will allow the company to take advantage of the new Russian legislation on international companies," the companys statement read.
