MOSCOW, March 12. The Russian Transmashholding (TMH) plans to complete the transfer of the company's shares to Russian jurisdiction — from Cyprus to Moscow — in March-April 2024, said the general director of the Russian machine-building holding and its co-owner Kirill Lipa.
TMH shares are consolidated in the Cyprus Transmashholding Limited. Transmashholding does not publish the shareholder structure. Previously, he reported that the owners of TMH are a number of Russian businessmen and Alstom with a 20% stake. TMH came under US sanctions in September 2023. In mid-November, Lipa announced that Alstom was selling Transmashholding shares to Russian shareholders. He added then that after the deal is closed, TMH will be re-registered under Russian jurisdiction.
«March-April,» Lipa answered on Tuesday when asked about the planned timing of re-registration.
At the same time, Lipa recalled that JSC Transmashholding is registered in Russia and all the enterprises of the holding are also registered.
“Not much changes for us. The company JSC Transmashholding is registered in Moscow, in Russia. Our shareholders owned shares of JSC Transmashholding through Cypriot companies because of Alstom. But the company JSC Transmashholding itself will not be re-registered anywhere. Where is it? was, and will remain there. Therefore, there will be no redomiciliation of the company. It’s just that ownership will be straightened out and that’s all. We have never really had any operating activities outside of Russia,” added Lipa.
Earlier on Tuesday, Lipa reported that Alstom sold all of its 20% shares of Transmashholding to Russian shareholders for half the objective value. The stake purchased from the French company was distributed evenly among TMH's Russian shareholders. Lipa said that TMH shareholders are Iskander Makhmudov, Andrey Bokarev, Dmitry Komissarov and himself (the controlling shareholder).
Transmashholding is Russia's largest developer and manufacturer of rolling stock for railways and urban transport systems. TMH Group enterprises produce electric locomotives, diesel locomotives, freight and passenger cars, as well as electric trains and metro cars.