17
Sun, Nov
43 New Articles

Sayenko Kharenko Helps Obtain Ukrainian Merger Clearance for Wabtec Merger with GE Transportation

Sayenko Kharenko Helps Obtain Ukrainian Merger Clearance for Wabtec Merger with GE Transportation

Ukraine
Typography

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.  

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

 

Our Latest Issue