Mix Line LLC (Chornomorsk, Odesa region), which organizes cargo transportation, can buy shares of Odesa Airport Development LLC (Kyiv), which will provide the buyer with over 25% of the voting shares on the company’s board.
According to the Antimonopoly Committee of Ukraine (AMCU), it provided Mix Line LLC with the appropriate permissions on February 4.
The founder of Mix Line LLC is Liudmyla Shinkarenko. She is also the founder of Agro-Aldmish LLC and Phoenix Security Agency LLC.
As reported, in 2011, the disposal of municipal property of Odesa International Airport took place in favor of economic entities. The alienation took place as a result of the creation by Odesa City Council and Odesa Airport Development, the beneficial owners of which at that time were known local Odesa entrepreneurs Borys Kaufman and Oleksandr Hranovsky, of Odesa International Airport LLC, in whose charter capital the property of municipal enterprise Odesa International Airport was transferred. At the same time, the city’s share in the newly created company was only 25%.
The Antimonopoly Committee of Ukraine (AMCU) on Tuesday decided to impose a fine of UAH 175.9 million on JSC DTEK Zakhidenergo and UAH 99.2 million on D.Trading LLC for abuse of monopoly position on the Burshtyn Energy Island in July-October 2019.
For its part, DTEK considers the decision taken as biased and unfounded.
“During the consideration of the case, the committee did not conduct a proper study of the functioning of the electricity market, the evidence and expert opinions provided were ignored,” DTEK said in a statement following the decision.
The Antimonopoly Committee of Ukraine (AMCU) fined the Ukrainian industrial company Interpipe UAH 69.3 million for violating antimonopoly legislation.
“Today, on October 29, 2020, the Ukrainian industrial company Interpipe has received a fine from the AMCU in the amount of UAH 69.3 million for violating antimonopoly legislation. According to the decision of the AMCU, the fine was imposed in connection with the abuse of a monopoly position in the wheel supply market,” the company’s press release reported on Thursday.
At the same time, Interpipe officially declares that it categorically disagrees with such decision of the AMCU and intends to contest this decision in court.
“As a national producer, we consider the AMCU’s decision to be unfair and unreasonable, taken not on the basis of facts, but on assumptions. The Ukrainian market is open to producers from other countries, and there are no protective duties on the market,” the press release emphasizes.
At the same time, it is noted that by submitting such complaints to the AMCU, unscrupulous competitors are trying to discredit the national manufacturer in order to ensure the supply of products of Russian manufacturers to Ukraine.
The statement also recalls that unlike the Ukrainian market, the Russian Federation protected its market from Ukrainian wheels with a 39% protective duty.
The Antimonopoly Committee of Ukraine (AMCU) has provided permission to Canadian Fairfax Financial Holdings Limited to acquire PJSC Universalna insurance company (Kyiv) via subsidiary of FFHL Group Ltd. FFH Ukraine LCC, which would grant over 25% of the votes in the management body of the insurance company. According to a regulator’s posting on its website, the committee also permited Fairfax Financial Holdings Limited to acquire shares in Universalna insurer via newly created FFH Ukraine Holdings LLC, which would grant 50% of the votes in the management body of the insurance company.
Besides, the AMCU permitted to acquire shares in the share capital of FFH Ukraine Holdings LLC by the European Bank for Reconstruction and Development (EBRD), which would grant 25% of the votes in the management body of the company.
In addition, the regulator granted a permit for agreed actions to Fairfax Financial Holdings Limited and Whiteford Limited (Cyprus) in the form of liabilities to refrain from competition and the ban to drain human resources away from the companies for the period of five years.
According to the National Commission on Securities and the Stock Market, Whiteford Limited is a holder of 42.3358% of shares of Universalna as of second quarter of 2019.
For Fairfax, the acquisition of Universalna insurance company will not be the first asset in Ukraine. Earlier in February 2019, the company already bought two of its Ukrainian subsidiaries, AXA Insurance and AXA Life Insurance, from the French AXA Group. Three years earlier, Fairfax acquired 100% of the insurance company QBE Ukraine (and changed its name to Colonnade Ukraine).
Universalna was founded in 1991. The company specializes in providing services in the field of risk insurance, its regional network has more than 300 offices.
According to the results of the first half of 2019, the company collected UAH 490.311 million in gross insurance premiums (17.4% compared to the previous year) and paid UAH 127.2 million (+11.4%) to customers.
The authorized capital of the company is UAH 192.7 million, with liquid assets of UAH 125.006 million (decreased by 32.73%). Deposits in the amount of UAH 293 million are on the company’s accounts.
