AMCU permits concentration of 100% of United Mining and Chemical Company's shares to NEQSOL Holding Cemin Ukraine LLC
The Antimonopoly Committee of Ukraine (AMCU) granted permission for acquisition of 100% of the charter capital of JSC United Mining and Chemical Company to NEQSOL Holding Cemin Ukraine LLC.
According to the AMCU report, such a decision was made at the AMCU meeting on Thursday.
"Permission has been granted to Cemin Ukraine LLC to acquire control over JSC United Mining and Chemical Company by directly purchasing shares of JSC United Mining and Chemical Company, which ensures an excess of 50% of votes in the supreme management body of the company," the committee said.
Director of Public Relations of NEQSOL Holding Ukraine Mykhailo Shuranov stated on his Facebook page that the positive decision of the Antimonopoly Committee of Ukraine in considering the concentration case is an important stage in completing the privatization process.
"NEQSOL Holding will conscientiously fulfill the obligations stipulated by the privatization terms. As a strategic investor, we have plans for modernization, development of new products using deep processing of raw materials, as well as expansion of the presence of the Ukrainian company 'United Mining and Chemical Company' products on world markets with strict compliance with international sanctions," the information states.
Regional director of NEQSOL Holding Ukraine Volodymyr Lavrenchuk also said "the AMCU's decision means the completion of a key stage of one of the largest privatizations in the conditions of a full-scale war in Ukraine. As a strategic investor, we will bring global business expertise to United Mining and Chemical Company to transform it into a modern global player in the titanium industry."
As reported, NEQSOL Holding-controlled Cemin Ukraine LLC became the only bidder for the purchase of United Mining and Chemical Company at the auction scheduled for October 9, 2024: at the initial price of UAH 3.899 billion, it offered UAH 3 billion 938.352 million.
