The Federal Anti-Trust Service reviewed an application filed by Generating Company OJSC seeking permission to acquire a 13.74% voting stake in Tatfondbank and decided to uphold this application. The relevant notice was posted on the website of the anti-trust authority.
The notice runs that this equity stake together with an interest held by Tatspirtprom, which is part of Generating Company, will equal 31.073% of Tatfondbank voting shares (13.74% plus 17.333%).
Both Tatspirtprom (via Svyazinvestneftekhim) and Generating Company (via Tatenergo Management Company) are owned by the Ministry of Land and Property Relations of the Republic of Tatarstan, data from the Unified State Register of Legal Entities show.
A stock purchase mechanism or the seller of the stake was not disclosed.
For the record, on October 14, 2016 Tatfondbank launched the placement of additional shares via open subscription, for the time being among persons who hold the preemptive right to buy additional shares from this issue. The additional share issue totals Rub 3 bln, i.e. 300 mln common shares with par value of Rub 10.00 each will be floated at par. It was earlier specified that the issuer's shareholders hold the preemptive right to buy the shares to be offered via open subscription in proportion to the number of shares of relevant categories that they own. The preemptive right is valid for 45 days.
At present, Generating Company is not a Tatfondbank shareholder.
It should also be specified that, as the regulator's data show, a 17.333% interest that FAS specified for Tatspirtprom is a holding in the company prior to the additional share issue (as of August 2, 2016). Tatspirtprom purchased this equity stake in two stages in summer 2016 from the bank's owners, as a result of which, as the lending institution reported, its share in the charter capital that is directly and indirectly held by the state increased to 45.3%.
