VTB Capital acquires 6.9% in TGK-11, later reduces stake to 0.39%
NOVOSIBIRSK. July 19 (Interfax) - CJSC VTB Capital has acquired 6.91% of the shares in generating company OJSC TGK-11 but later reduced its stake in the charter capital to 0.39%, the genco said in a statement.
The statement said that VTB Capital acquired 35,460,992,907 common shares in the genco on July 4, 2012 and reduced its stake to 0.39% on July 5. VTB Capital retained 2 billion shares. The statement does not specify the party from which the investment bank acquired the interest and the identity of the buyer on the following day.
TGK-11 declined to comment on this report.
Inter RAO Capital currently owns 85% in TGK-11. Inter RAO earlier received permission from Russia's Federal Antimonopoly Service (FAS) to increase its stake in the genco to 100%.
Registered in Novosibirsk, TGK-11 produces electricity and heat in the Tomsk and Omsk regions. It includes six heat plants and two boilers with an overall installed power capacity of 2,076 MW, and a heat capacity of 8,347 Gcal/h. The length of its heat networks surpasses 800 kilometers.