10:24 19.10.2017

Competition agency permits Glencore enter capital of Mykolaiv alumina plant

1 min read
Competition agency permits Glencore enter capital of Mykolaiv alumina plant

The Antimonopoly Committee of Ukraine has permitted Glenсore commodities trader to acquire a stake in the charter capital of Mykolaiv alumina plant LLC (Mykolaiv region) and three other Ukrainian companies under control of RusAl (Russia).

"Taking into account the fact that the announced concentrations would not result in monopolization or large restriction of competition on the Ukrainian commodity markets, the committee permitted the deals," the committee said on Wednesday.

Glenсore would enter the capital of Aluminium of Ukraine LLC and Guardon Ukraine (both based in Kyiv), which directly own 13.96% and 86.04% in Mykolaiv alumina plant.

According to the unified public register of companies, direct owners of these Kyiv-based companies are offshore companies from Aruba Gordal Holdings A.V.V. and Gandela International A.V.V. The ultimate beneficiary is Russian businessman and President of RusAl Oleg Deripaska. Deripaska is suspected of destroying Zaporizhia aluminum plant (ZAIK) by the Security Service of Ukraine.

The committee also permitted Glencore to acquire a stake in Guard of Mykolaiv alumina plant LLC.

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