Sayenko Kharenko's antitrust team has helped obtain merger clearance by the Antimonopoly Committee of Ukraine for the Wabtech Corporation's global acquisition of GE’s Transportation business.
The USD 11.1 billion deal was completed on February 25, 2019.
According to Sayenko Kharenko, the firm "managed to demonstrate to the AMC the absence of any competition concerns resulting from the deal for any Ukrainian markets and successfully limited the transaction to a Phase I review. This resulted in smooth merger control clearance of the transaction in Ukraine."
Sayenko Kharenko describes the Wabtec Corporation as "a leading global provider of equipment, systems and value-added services for transit and freight rail." According to the firm, "through its subsidiaries, the company manufactures a range of products for locomotives, freight cars, and passenger transit vehicles. [The] Wabtec Corporation has roughly 18,000 employees and facilities located throughout the world."
Sayenko Kharenko describes GE Transportation as "a global technology leader and supplier of equipment, services and digital solutions to the rail, mining, marine, stationary power and drilling industries," and reports that "the company employs approximately 9,000 employees worldwide."
“This transaction is good for GE shareholders, who gain equity in an organization at the forefront of rail innovation; for GE, as we work to reduce leverage and strengthen our balance sheet; and for Wabtec, which now has a stronger and more diversified business mix to serve its customers," commented GE Chairman and CEO H. Lawrence Culp Jr. "The GE and Wabtec teams worked hard to complete this deal, and I am excited by the opportunities ahead for Wabtec.”
The Sayenko Kharenko team included Senior Associate Julia Kuyda and Associate Igor Pomaz, both working under the supervision of Partner Vladimir Sayenko.