Russian gas monopoly OAO Gazprom (GAZP.RS) Thursday said it has increased its holding in regional generator OAO TGK-1 (TGKA.RS) to 28.7%.
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.
In March, Gazprom's unit Mezhregiongaz said that the gas monopoly is planning to make a buyout offer to TGK-1's shareholders, declining to provide any timeline for the offer or name the price.
TGK-1 owns 56 electric power plants in St. Petersburg, the constituent republic of Karelia, and in the Leningrad and Murmansk regions.