Russian gas monopoly OAO Gazprom (GAZP.RS) is planning to make a buyout offer to shareholders in regional power generator OAO TGK-1 (TGKA.RS), a spokeswoman for Gazprom subsidiary Mezhregiongaz said Monday.
State-owned Gazprom had a 17.67% stake in TGK-1 at the start of the year, but has since increased this to an unspecified level by purchasing shares from the government.
The Mezhregiongaz spokeswoman said the buyout offer isn't mandatory, meaning Gazprom has not breached the 30% threshold that would require it to make such an offer.
She declined to provide any timeline for the offer or name the price. "We have to consolidate the shares we already have into one company before we can proceed with the offer," she said.
As of Jan. 1, former electricity monopoly RAO Unified Energy System (EESR.RS) owned 42.31% of TGK-1, while Finland's Fortum (FUM1V.HE) had 25.69%.