TMH could redomicile to SAR before end of year, Alstom to withdraw due to sanctions - Transmashholding CEO

MOSCOW. Oct 9 (Interfax) - The parent company of JSC Transmashholding (TMH), Transmashholding Limited, may be redomiciled from Cyprus to Russia by the end of the year, TMH CEO Kirill Lipa told Interfax.

Lipa told reporters in August that the decision to change the jurisdiction of TMH's parent company from Cyprus had been made and that a list of countries for possible redomiciliation was being studied.

"To Russia," Lipa said on Monday when asked if a country for redomiciliation had been chosen. He did not specify which of the two special administrative regions (in Kaliningrad or the Primorye territory) he was referring to. Speaking about the timing, Lipa said it would probably happen before the end of the year.

Russian shareholders, including Lipa himself, own 80% of Transmashholding Limited. The remaining 20% is held by France's Alstom, which, according to the TMH chief, is withdrawing as a shareholder of the company due to the introduction of U.S. blocking sanctions.

"We have Alstom leaving due to us being put on the SDN [list]," Lipa said, without providing further details.

As reported, on September 14, the U.S. updated the Russian segment of the SDN List, adding Transmashholding and other entities.