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15 September 2010

Sayenko Kharenko advised on merger clearance for acquisition of Chloride Group PLC by Emerson Electric Company

Sayenko Kharenko antitrust team has provided legal assistance in a merger clearance before the Antimonopoly Committee of Ukraine (the "AMC") for GBP 997 million acquisition by Emerson Electric Co. ("Emerson "), a Fortune 500 technology company, of Chloride Group PLC ("Chloride Group "), a UK-based provider of UPS systems and solutions.

The combination will allow both companies to leverage their research and development and technology efforts, while realising opportunities to improve the combined cost structure and to optimise global revenues.

Emerson Electric Company, a global, manufacturing group which provides technological solutions to companies in the network power, process management, industrial automation, climate technologies, storage solutions, motor technologies and appliance & tools businesses markets.

The Chloride Group is a diversified, global, manufacturing group which provides secure power solutions for businesses world-wide, and its product portfolio includes static transfer switches, battery chargers, fuel cells, flywheels, diesel generators, software and UPS systems.

After examining the proposed transaction, the AMC has concluded that its implementation poses no threat to competition nor significantly limits competition on any product market in Ukraine.

Sayenko Kharenko competition involved in the transaction included counsel Dmitry Taranyk and associate Valentyna Hvozd, led by partner Vladimir Sayenko.

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