Sayenko Kharenko antitrust team has provided legal assistance in merger clearance with the Antimonopoly Committee of Ukraine (the “AMC”) for Euro 3.4 billion acquisition of Rhodia SA (“Rhodia”), a French chemical company, by Solvay SA(“Solvay”), a Belgian chemicals and plastics company.
The acquisition of Rhodia will boost Solvay's geographical exposure, particularly in Asia, one of the most promising markets for the companies' businesses. It will also reduce the energy footprint and increase the company's research and development of new products.
Rhodia specializes in developing chemicals and technologies for clients in the automotive, electronics, pharmaceuticals, agrochemicals, consumer products and tire industries.
Solvay, based in Brussels, manufactures chemicals and plastics, has exited the pharmaceutical business in 2009.
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 team for the current transaction included counsel Dmitry Taranyk and associate Maksym Nazarenko, and was led by partner Vladimir Sayenko.