12 March 2008

Sayenko Kharenko obtains merger clearance from the Antimonopoly Committee of Ukraine for the acquisition of Redaelli Tecna S.p.A. by the Severstal Group

Sayenko Kharenko acted as a Ukrainian legal counsel to JSC Severstal-metiz affiliated with the Severstal Group on obtaining merger clearance in Ukraine to acquire Redaelli Tecna S.p.A., the oldest steel drawing company in Italy. The AMCU concluded that the concentration will not lead to monopolization or significant limitation of competition in Ukraine and cleared the transaction within a rather short period of time. The purchase of Redaelli will allow Severstal-metiz to expand its product portfolio through the inclusion of speciality wire ropes of complex construction produced by the Italian company and the development of wire rope service and engineering using Redaelli’s expertise.

"Advising on the Ukrainian issues of Severstal / Redaelli transaction successfully continues our mutually beneficial cooperation with the Severstal Group." – says Vladimir Sayenko, partner at Sayenko Kharenko. The Severstal Group is a leading international steel producer, which is active in numerous other industries like coal, iron, and gold, as well as a number of services unrelated to the metallurgy industry, such as engineering, and insurance with presence all around the world including, possessing assets in America, Italy, France, the UK and other CIS countries.

Redaelli was created in 1819 and is still operating in the field of derived from steel rod, in the processing of high carbon wires and hi-tech steel wire ropes, in the distribution of wire ropes, chains, webbing and round slings for industrial lifting, in consulting, designing, producing and installing suspended civil structures.

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


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