Two Ukrainian companies of the Austrian Pulp Mill Holding will pay UAH 58.7 million in fines
25 December 2024 11:57
The Antimonopoly Committee has fined PJSC Kyiv Cardboard and Paper Mill and LLC Palm Mill Print UAH 58.7 million for concentrations without the regulator’s permission. This was reported by the AMCU, "Komersant Ukrainian" informs.
Both companies have merged assets or acquired shares without prior regulatory approval, despite the fact that it was necessary.
According to the AMCU, in June 2017, before obtaining the Committee’s permission, Kyiv Cardboard and Paper Mill PrJSC acquired a share in the authorized capital of Avtospetstrans-Kyiv Cardboard and Paper Mill LLC, which ensured that it exceeded 50% of the votes in the company’s supreme management body.
In November 2019, before obtaining the Committee’s permission, Palm Mill Print LLC acquired the assets of Blitz-Inform PrJSC and a share in the authorized capital of Blitz-Inform Printing House LLC, which ensured exceeding 50% of the votes in the company’s higher management body.
It is noted that PJSC Kyiv Cardboard and Paper Mill and LLC Pulp Mill Print are interconnected through the beneficial owner, the Austrian company Pulp Mill Holding.
The AMCU found that PrJSC Kyiv Cardboard and Paper Mill and LLC Pulp Mill Print committed violations under Article 50(12) of the Law of Ukraine “On Protection of Economic Competition”.
