The Ukrainian Competition Authority imposes a record-breaking fine of EUR 1.9 million for failure to obtain merger clearance for a notifiable concentration in the heavy industry sector, despite also finding that it did not raise any competition concerns (DCH group / Dnipro Metallurgical Plant / Evraz group)

The facts of the case On 6 March 2018, SENALIOR INVESTMENTS LIMITED, a Cyprus subsidiary of the DCH group (the "DCH Group", the "Acquirer's Group") indirectly acquired a controlling stake in Private Joint Stock Company "Dnipro Metallurgical Plant" ("DMP", the "Target"), a Ukrainian plant, active in the production of pig iron, coal coke and various steel products, from the Evraz group (the "Transaction"). The DCH Group is controlled by Mr Oleksandr Yaroslavsky, Ukrainian businessman ranked #17 among the richest people in Ukraine. The Target was a part of the Evraz group, a multinational, vertically integrated steel-making and mining group with beneficial owners including Mr Roman Abramovich, a citizen of the Russian Federation. A week before completion of the acquisition, press

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Anastasia Usova, Nataliya Kovalyova, The Ukrainian Competition Authority imposes a record-breaking fine of EUR 1.9 million for failure to obtain merger clearance for a notifiable concentration in the heavy industry sector, despite also finding that it did not raise any competition concerns (DCH group / Dnipro Metallurgical Plant / Evraz group), 25 April 2019, e-Competitions April 2019, Art. N° 90769

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