TMK has completed the repurchase of 100% of the shares of ChTPZ

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AK&M 22 October 2021 18:47

The Pipe Metallurgical Company has completed the acquisition of the remaining stake in PJSC "CHTPZ" from minority shareholders. This is stated in the message of TMK.

The Company completed the mandatory repurchase of 2.3679% of shares in the framework of the procedure launched on August 12, 2021 in accordance with the law on Joint Stock Companies, repurchasing shares at a price of RUB 318.26 per paper.

TMK acquired 86.54% of the shares of PJSC "CHTPZ" in March 2021. In April, the company sent a mandatory offer to acquire the remaining securities from minority shareholders and, as a result of this procedure, bought back more than 11% of the shares of ChTPZ, increasing its stake to 97.6321%. After repurchasing the remaining 2.3679% of shares, TMK concentrated 100% of the shares of ChTPZ.

TMK is a global supplier of steel pipes, pipe solutions and related services for the oil and gas sector, one of the three world leaders in the pipe business. The company has production assets in Russia, Romania and Kazakhstan. The largest share in TMK's sales structure is occupied by threaded oil and gas pipes shipped to consumers in more than 80 countries around the world. TMK shares are traded on the London Stock Exchange and the Moscow Stock Exchange.

The ChTPZ Group is one of the leading industrial groups of the metallurgical complex of Russia with a highly diversified client portfolio. The ChTPZ Group unites enterprises and companies of ferrous metallurgy: Chelyabinsk Pipe Rolling Plant, Pervouralsky Novotrubny plant, a warehouse complex that sells the group's pipe products in the regions, a company for the procurement and processing of ferrous scrap metal "META", enterprises for the production of main equipment SOT, ETERNO, MSA (Czech Republic); the oilfield service business is represented by the Rimer Group of Companies.