PAO TMK (MISX:TRMK) is preparing to spin off and subsequently sell its seamless pipe production facilities as part of the conditions the Federal Antimonopoly Service (FAS) set when it approved TMK's acquisition of Chelyabinsk Pipe Rolling Plant (ChelPipe), TMK principal shareholder and Chairman Dmitry Pumpyansky told Interfax. "There is an order to spin off facilities for production of seamless pipes, we're carrying it out. We've been given a fairly substantial period of time, which is due to the fact that spinning off and selling these assets on the market requires real time, because the production assets are part of certain legal entities, process chains. We need to spin off an asset that would be interesting, a buyer needs to be found for it on the market," Pumpyansky said. "We're not restricted by the regulator here in terms of selling options. We can hold a public tender, auction, we can simply find a B2B partner, it's not important. What's important is for us to have a commercial offer on the market that would satisfy the buyer. This requires preparing the asset for sale," he said. "We will soon complete this work [on selling assets as required by the regulator]. I'm confident that we will fulfil all FAS orders on time," Pumpyansky said. He said TMK is fulfilling all of the regulator's demands as it is supposed to. "We have approved the sales policy and cleared it with the antimonopoly agencies, we're following the rules and approaches to pricing [.]," Pumpyansky said.