13 May 2008

Sayenko Kharenko obtains clearance from the Antimonopoly Committee of Ukraine for the acquisition of Eurotech S.p.A. by Finmeccanica S.p.A.

Sayenko Kharenko acted as a Ukrainian legal counsel to Finmeccanica S.p.A. ("FNM"), one of the main Italian industrial groups, in a merger clearance in Ukraine to acquire Eurotech S.p.A. ("ETC"). The concentration was carried out through the acquisition of control over ETC by FNM together with three other shareholders of ETC, which, as the result of the concentration, will exercise joint control over ETC and its business. FNM intends to further develop ETC's activities, particularly in the sector of embedded circuits and systems, and optimize the related research and development activities. Finmeccanica S.p.A. operates globally in the aerospace, defence and security sectors, and is one of the world's leading groups in the fields of helicopters and defence electronics.

It is also a well established European company for satellite and space services as well as having considerable know-how and production capacity in the energy and transport fields. After examining the transaction, the AMC concluded that the proposed concentration will not lead to monopolization or significant limitation of competition in Ukraine and cleared the transaction within a much shorter period of time than expected by the parties.

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


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