UPDATE: Russian antitrust says approves Sovlink’s purchase of TGC-2

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MOSCOW, Aug 11 (PRIME) -- Russia’s Federal Antimonopoly Service has approved a request from investment company Sovlink to buy 100% in power utility Territorial Generating Company-2 (TGC-2), the service said in a statement on Friday.

But Roman Filkin, CEO of Prosperity Capital Management fund, told PRIME that the fund plans to maintain its 27% stake in TGC-2.

In November 2016, several shareholders transferred 21.77% of common shares in TGC-2, controlled by Sintez Group, into trust management of Sovlink. In March 2017, Sovlink raised the stake in TGC-2 to 52.8%.

TGC-2 operates electric power plants in the Arkhangelsk, Vologda, Kostroma, Novgorod, and Yaroslavl regions in the northern and central Russia.

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