OREANDA-NEWS. On May 30, 2007 OAO "TGC-1" has completed all corporate procedures to consolidate its assets. The Federal Service for the Financial Markets of Russia (FSFM) registered the report on the results of the new share issue filed by OAO "TGC-1". The new shares were issued for the purpose of exchange for shares in OAO "Murmanskaya CHPP", reported the press-centre of  RAO "UES of Russia".

After the share exchange, the holders of shares in OAO "Murmanskaya CHPP" became shareholders in OAO "TGC-1", and OAO "Murmanskaya CHPP" became a subsidiary of OAO "TGC-1".

Previously, on 1 November 2006, OAO "Petersburg Generation Company", OAO "Kolskaya Generation Company", OAO "Apatitskaya CHPP", and OAO "Karelenergogeneratsiya" merged with OAO "TGC-1".

Thus, OAO "TGC-1" has now completed the creation of its intended corporate structure.

After the relevant amendments are made to the Charter of OAO "TGC-1", RAO "UES of Russia", Finland's Fortum, and OAO "Interros Holding Company" will hold 55,7%, 25,5%, and 7,4%, respectively.

The consolidation of the financial and generation assets located in the Leningrad Region, Murmansk Region, and Karelia Republic will make OAO "TGC-1" more attractive for investors.