Kirill Katkov has explained to Novy Prospect and Mashnews what the FAS authorisation for Pikalevskaya Soda to acquire the right to determine the terms of Glanit’s operations might mean

The Federal Antimonopoly Service (FAS) has authorised Pikalevskaya Soda chemical producer, controlled by former Phosagro CEO Maxim Volkov, to acquire the right to determine the terms and conditions of operations of Glanit glassware manufacturer. At the request of Novy Prospect online edition, Kirill Katkov, Associate at Maxima Legal, explained what may lie behind the wording of the decision.

In particular, the expert noted that the FAS authorised a group of persons of Pikalevskaya Soda to make a transaction, the transaction is specified in the petition, but what exactly this transaction is, it is not clear from the decision. “Based on the law on the protection of competition, we can assume that it is either the acquisition by a group of persons of Pikalevskaya Soda of more than 50% of voting shares of Glanit, or the conclusion of an agreement under which one of the persons of Pikalevskaya Soda group will become the managing company of Glanit i.e. will perform the functions of its sole executive body,” Kirill outlined the most common variants of such transactions, noting that there may be others.

It should be noted that Kirill Katkov’s commentary was also quoted by Mashnews online publishing.

To read the full article (in Russian), please see Novy Prospect website >>>

To read the full article (in Russian), please see Mashnews website >>>