Interros increases stake in TCS Holding from 35% to 41.4%

MOSCOW. Aug 20 (Interfax) - The Interros Group participated in an additional share issue by TCS Holding by contributing shares of Rosbank , as a result of which it became the largest non-controlling shareholder of the holding, increasing its stake to 41.4%, the group said in a statement.

TCS Holding completed a deal for the integration of Rosbank in August. For this purpose, 69 million new shares were issued, the group has said. Prior to the deal, Interros owned a 35% stake in TCS Holding, which it bought in April 2022 from the group's founder Oleg Tinkov (later deemed to be a foreign agent in the Russian Federation).

"TCS Holding continues to have a highly diversified structure of shareholders, with a significant free float and the largest non-controlling shareholder holding 41.4%," Alexei Malinovsky, chairman of the holding's board of directors, was quoted as saying.

The board of directors is awaiting management's proposals on the specific stages of Rosbank's successful integration into the TCS Group.

The biggest shareholders in Rosbank prior to the deal were Vladimir Potanin's Interros with 45% and a charity set up by Potanin with 47.5%. Another 7.5% is held on the balance sheet of Rusfinance, owned by Rosbank, for an incentive program for bank employees.