13 May 2024 13:14

TGK-2 orders assessment of value of 83.42% of company's shares owned by Federal Property Management Agency

MOSCOW. May 13 (Interfax) - PJSC TGK-2 ordered an assessment of the market value of the 83.42% of the company owned by the Federal Property Management Agency, materials from the purchase of TGK-2 said.

The assessment results must be submitted to the Federal Property Management Agency for the adoption of proposed management decisions, the materials say.

The market value is understood in the materials to be the most probable price at which the valuation object can be alienated on the open market on the valuation date under competitive conditions.

The assessment is due to be completed in August 2024.

The Leninsky Court in Yaroslavl decided to convert shares of TGK-2 to state ownership in the summer of 2023. This applied specifically to over 9.5% of shares owned by Kores, 27% owned by Debt Agency LLC, over 14.5% owned by Janan Holdings Ltd., 1.5% owned by Litim Trading Ltd., almost 7.3% owned by Raltaka Enterprises Ltd., and over 23.59% owned by Kostroma Kogeneratsiya Ltd.

Kommersant, citing sources, reported that the shares of TGK-2 had come under the control of Gazprom Energoholding (GEH) at the end of October. GEH did not comment on this. However, GEH General Director Denis Fedorov, in a conversation with journalists in December 2023, said that his company had not yet received shares in TGK-2.

"Not yet, the shares are, as far as I understand, in the process of being transferred to the Federal Property Management Agency. We have not received TGK-2 yet," he said in answer to a related question.

TGK-2 consists of 12 thermal power plants, 30 boiler houses and 4 heating network enterprises. Its assets are located in Russia's Arkhangelsk, Vologda, Kostroma, Novgorod and Yaroslavl regions, as well as in North Macedonia. The installed capacity of the company's power plants is 2.45 GW, while its thermal capacity is 8,800 Gcal/h.