The Antimonopoly Committee of Ukraine (AMCU) has permitted Ukrainian citizen Eldar Iukuridze to gain control over LLC Shabo Industrial and Trading Company (Odesa region), reads a statement posted on the committee's website.

According to the statement, the concentration concerns in the acquisition by Iukuridze of control over the company through the purchase by Shabo Industrial and Trading Company of a stake in Chabag 1822 SA in its own share capital.

According to the single state register of legal entities, individual entrepreneurs and public formations, Iukuridze is also the final beneficiary of LLC Shabo Agricultural Firm (Odesa region), which is engaged in growing grapes in Odesa region.

According to the SPARK-Interfax database, Shabo Industrial and Trading Company saw its net profit in 2016 fall by 13 times from 2015, to UAH 1.998 million, whereas net income grew by 4.7%, to UAH 792.282 million

Shabo Industrial and Trading Company was established in 2003. It is engaged in growing and processing grapes, producing and selling alcohol products under the Shabo trademark.

Shabo has produced cognacs and brandy since 2005 and grape vodka since 2013. Production facilities of the complex provide a full cycle of production of strong alcoholic beverages of grape origin.

The company's department of reception and processing of grapes has a total area of almost 1,300 square meters. It can process over 20,000 tonnes of red and white grapes.

The total area of the company's wine storage facility is about 10,000 square meters, which can simultaneously store over five million liters of wine.

Annually, the company produces almost 50 million bottles, has more than 80 items of Shabo products, and delivers its products for export.