TMK: Announces the Completion of the Transaction for the Acquisition of 86.54% of Shares in PJSC “ChTPZ” from the Controlling Shareholder Andrey Komarov
The perimeter of the transaction included production and sales and service assets, scrap procurement and processing, as well as other assets related to the activities of the pipeline division of PJSC ChTPZ. The Rimera Group’s oilfield services division was not included in the deal.
TMK expects to obtain significant synergies, including through optimization of capacity utilization and logistics costs, as well as expansion of the product range and growth of business operating efficiency.
The owners of the remaining 13.46% of shares in PJSC ChTPZ will be offered an offer in accordance with Russian legislation.
JP Morgan, Alfa-Bank and Credit Bank of Moscow acted as financial advisors to PJSC TMK, Latham & Watkins as legal advisor, and PWC as a tax and financial advisor. On behalf of Andrey Komarov, CitiBank acted as financial advisor to the transaction, and international law firm Dentons as legal advisor.
