TMH finishes transferring shares to Russia, eliminating foreign jurisdiction in ownership

MOSCOW. Aug 19 (Interfax) - JSC TMH finished transferring shares to Russia in July, eliminating foreign jurisdiction from its ownership, the rolling stock manufacturer told Interfax.

"TMH carried out measures to Russify the company's ownership structure. Transactions with shares took place in July 2024, as a result of which foreign legal entities were excluded from share ownership. At present, shareholders are exclusively entities from Russian jurisdiction," its press service said.

TMH planned to complete the transfer of shares to Russian jurisdiction in the summer. "The Cypriot legal entity [Transmashholding Limited], which is the sole shareholder of JSC TMH, will be excluded from the ownership structure of the Russian legal entity, and will not change jurisdiction from Cyprus to Russia," TMH said.

The decision to change jurisdiction was reached last year.

Transmashholding is Russia's largest developer and manufacturer of modern multi-car railway rolling stock. Its headquarters are in Moscow. The holding structure includes production and assembly sites in Russia and 30 in other countries worldwide.