Interfax reported that LLC Gazprom Energy Holding has increased its stake in the TGK-1 territorial generating company to 30.013% from 29.501% ordinary shares.

The company is now obliged to offer to buy the genco minority shareholders out now that it owns more than 30%. LLC Trans-Invest, another Gazprom subsidiary bought0.51% of the genco at the beginning of November.

The FAS said in materials that the Russian Federal Antimonopoly Service has cleared Gazprom to consolidate 46.4% of the shares in the TGK-1 by acquiring 100% of LLC Russian Energy Projects which owns 17.65% of TGK-1. Gazprom already owns 28.69% of the genco directly.

The FAS is still considering a separate request by Gazprom Energy Holding to consolidate a 50% voting stake in TGK-1 and a similar request by Gazprom subsidiary LLC Project Finance.

Gazprom Energy Holding has so far consolidated 53.47% of Mosenergo the 28.7% of TGK-1, 8.34% of Inter RAO UES, 10.49% of Inter-District Grid Company Holding, 10.49% of RAO Energy Systems Vostok and 99.2% of CentrEnergoHolding, which owns 44.4% of the OGK-2 generating company and 42.9% of the OGK-6 genco.

(Sourced from Interfax)