PAO TMK : TMK’s deal to acquire Chelpipe Group receives a diploma of Russia M&A Awards

21.04.2022 TMK's deal to acquire Chelpipe Group receives a diploma of Russia M&A Awards

TMK was awarded a diploma of Russia M&A Awards 2021 in the Deal of the Year category for its Chelpipe acquisition deal. The award ceremony was held during the 12th Russian M&A Congress, a conference on mergers and acquisitions.

Russia M&A Awards were established in 2010 by PREQVECA, an information and analytical company within Cbonds Group. The awards are voted on by representatives of the professional community in five categories: Best Law Firm, Best Advisor, Best Investment Bank, Team of the Year, and Deal of the Year.

Vladimir Shmatovich, TMK's Vice President for Strategy, said: "With enterprises that were previously part of Chelpipe Group integrated into TMK, we have now become a national champion in the pipe industry. The deal has brought more certainty to the market, cut shipment times and optimized logistics for our customers as we expanded the geography of our assets and implemented a unified production program. Today we are focusing on further advancing the technology at new production facilities, boosting efficiency, increasing the output of innovative products, and improving environmental performance."

In March 2021, TMK announced the closure of the deal to acquire 86.54% of shares in Chelpipe from Andrey Komarov, the controlling shareholder. The deal covered production, distribution and servicing assets, scrap collection and processing units, and other assets involved in the operations of Chelpipe's trunk pipeline systems. Following the acquisition of Chelpipe shares from minority shareholders, TMK's stake is now 100%.