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Integrites Obtains Approval of Ukraine's Competition Authority for Rusal-Glencore Merger

Integrites Obtains Approval of Ukraine's Competition Authority for Rusal-Glencore Merger

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Integrites has represented Russian Aluminum (RusAl) in its successful application for the approval of the Antimonopoly Committee of Ukraine for its concentration with Glencore.

According to reports, the country's anti-monopoly committee allowed commodities trader Glencore to own a stake in a major Ukrainian alumina refinery controlled by Russia’s Rusal. As a result of the permits, Glencore can acquire shares in the Aluminium of Ukraine and Guardon Ukraine companies, which own the Mykolaiv alumina plant and are themselves controlled by Rusal.

According to Integrites, "as a result of comprehensive professional counseling, the Antimonopoly Committee of Ukraine granted a permission for concentration between the United Company Rusal and Glencore. Besides, the National Security and Defense Council of Ukraine confirmed the fact that the participants of the concentration are not subject to any restrictive measures (sanctions)."

Rusal is the world's largest aluminum producer. According to Integrites, "the assets of the United Company Rusal comprise the entire complex of enterprises involved in the chain of production of the final product: from mining plants to aluminum and foil-rolling plants, thus, allowing the company to monitor all stages of the production process, ensuring high-quality products."

Glencore International is one of the world's largest suppliers of raw and rare-earth materials. The Switzerland-based company operates in 50 countries and claims a headcount of more than 150 thousand employees. The company's revenue in 2016 amounted to USD 177 billion with adjusted EBITDA of USD 10 billion.

The firm's team consisted of Counsel Pavel Loginov and Lawyer Bogdan Ilchenko.

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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