Transmashholding has increased its stake in Metrovagonmash and intends to buy out all shares of the car building plant.
The Bank of Russia announced that a mandatory offer to purchase issue-grade securities of JSC Metrovagonmash was sent to its address for the control of JSC Transmashholding. The regulator considered this proposal inconsistent with the requirements of the legislation of the Russian Federation and sent a corresponding order.
In the report on affiliated entities published by Metrovagonmash as of June 30, 2022, an increase in the participation share of Transmashholding to 75.25% from 73.8% was recorded. This means that the holding has exceeded the 75% ownership share and must send an offer to other shareholders to buy back shares at a certain price.
Metrovagonmash was founded in 1897. He has been engaged in the development and production of subway cars since 1934. More than 9 thousand metro cars are operated in 19 subways of cities in 11 countries of the world. Metro cars produced on Metrovagonmash carry more than 16 million passengers daily.
JSC Transmashholding (TIN 7723199790) unites transport engineering enterprises that develop and produce electric locomotives, diesel locomotives, passenger and freight cars, diesel locomotives and marine diesel engines, subway cars, electric and diesel trains, car casting, components and equipment for railway rolling stock.
TMH is a Russian company with headquarters in Moscow and international divisions in Switzerland, Hungary, South Africa, Egypt, Argentina, Belarus and Kazakhstan. The structure of the holding includes 15 production and assembly sites in Russia and other countries of the world, and the geography of work covers more than 30 countries.
