TMK Completed the Buyback of 100% of Shares in ChTPZ
On October 22, 2021, Pipe Metallurgical Company (TMK) completed the acquisition from minority shareholders of the remaining stake in PJSC ChTPZ.
The company completed the mandatory buyback of 2.3679% of shares as part of the procedure launched on August 12, 2021 in accordance with the Federal Law “On Joint Stock Companies”, having bought back shares at a price of RUB 318.26. a piece.
In March 2021, TMK completed a deal to acquire 86.54% of shares in PJSC ChTPZ. In April, the company sent a mandatory offer to acquire the remaining securities from minority shareholders and, as a result of this procedure, bought out more than 11% of shares in PJSC ChTPZ, increasing its stake to 97.6321%. After the redemption of the remaining 2.3679% of shares, TMK concentrated 100% of the shares of PJSC ChTPZ.
