The AMCU fined a Hungarian buyer of Ukrainian companies

News

The AMCU fined a Hungarian buyer of Ukrainian companies

09.04.2021 News

At a meeting on Thursday, April 8, the Antimonopoly Committee of Ukraine fined the Hungarian company Üttema Kereskedelmi Korlátolt Felelősségű Társaság UAH 65 million for acquiring two Ukrainian companies – Kyivshlyakhbud LLC and Rostdorstroy LLC without obtaining concentration permits. This was reported by the press service of the AMC.

According to the Committee, in October 2018 Üttema acquired shares of Rostdorstroy, and in November of the same year – shares of Kyivshlyakhbud.

At the same time, the participants in the concentration applied to the AMCU for permits only in June 2020 – almost two years later.

The AMCU explained that the cost indicators of the participants in the concentration in 2017 exceeded the threshold values, so the concentration was to be carried out only after obtaining the permission of the Committee.

For this, the AMCU found Üttema a violator and imposed a total fine of UAH 64.77 million.

The Committee also found that the share of participants in the concentration in the national market of road and highway construction in 2015-2019 and the first nine months of 2020 was 10%.

Therefore, the AMCU granted Üttema permission to acquire a share in the authorized capital of these companies.

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