TITAN-2 Holding Maintains Control Over SUS

Should the transaction take place, JSC TEK-Mosenergo will become the owner of 49 percent of OJSC SUS, while JSC HOLDING TITAN-2 will retain the controlling interest of 51 percent.

Yesterday, the Federal Antimonopoly Service (FAS) of Russia made a decision to grant the request of TEK-Mosenergo and provided a preliminary approval on the purchase of 90 percent of the voting shares of Public Joint-Stock Company SUS.

Granting of the request by FAS carries no obligation for the applicant to buy the relevant shares in general, or to buy the requested amount in particular.

According to the current legislation, FAS’s approval is mandatory considering the amount of assets of JSC TEK-Mosenergo and PJSC SUS.

Note:

The Holding “Titan-2” is the largest in the North-West group of companies, erecting the most important objects of the nuclear industry and energy. The organization performs a full range of construction and installation works from engineering to commissioning.

The Holding “Titan-2” is one of the main contractors for the construction of power units No. 1 and No. 2 of the Leningradskaya NPP-2. Main organizations of the company perform 30% of general construction and 80% of installation works on the site. Specialists of the holding are engaged on the objects of the Leningradskaya NPP-2 first and second power units. The works are being performed in the buildings of the reactor, turbine, electricity, water, heating system and other structures of power units.