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Antimonopoly Committee of Ukraine is Finally Set to Exclude Sellers from Merger Control Thresholds

Antimonopoly Committee of Ukraine (AMC) published draft amendment to the Merger Regulation that proposes to exclude turnover of sellers and other controlling shareholders from the notifiability assessment and take into account only the turnover generated by the business being acquired. The draft, however, does not address the calculation of the value of assets, which is a separate threshold that often triggers merger clearance requirement. 

The "exiting seller" problem has been in place for years - the seller must be included into perimeter of the target based on literal interpretation of the law and long standing enforcement practice of the AMC. This rule applied for many years and survived  the merger control reform of 2016. The rule has been heavily criticized by local and foreign filers and casted a shadow on credibility of Ukraine's merger control regime and international image of the Ukrainian competition authority. 

The AMC has invited public opinion on the draft amendment which can be submitted till 3 January 2019. 

For further information please contact Igor Svechkar or Alexey Pustovit.

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