OREANDA-NEWS. On 1 November 2006, OAO "TGC-1" completed all legal and corporate actions to effect the merger of OAO "Petersburg Generation Company", OAO "Kolskaya Generation Company", OAO "Karelenergogeneratsiya", and OAO "Apaptitskaya CHPP" with and into OAO "TGC-1".

Before the merger, OAO "TGC-1" had operated using lease arrangements.

On 1 November, the merged companies' shares were converted into shares of the surviving entity, TGC-1, and all shareholders in the merged companies became TGC-1 shareholders.

In the future, shareholders in OAO "Murmanskaya CHPP" will exchange their shares for additional shares in TGC-1 approved for issuance by TGC-1 shareholders on 21 July 2006. The share exchange is expected to take place in Q1 2007. After that, the target structure of TGC-1 will be finally formed, and the Murmanskaya CHPP will become a TGC-1 subsidiary.