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14 February 2019

Sayenko Kharenko secures Ukrainian merger clearance for combination of Sivantos and Widex to create a global hearing aid leader

The Sayenko Kharenko antitrust team has acted as legal advisor to both EQT Partners and their portfolio company Sivantos Pte. Ltd. and Widex A/S controlled by T&W Medical A/S (formerly Widex Holding) in obtaining the necessary approval from the Antimonopoly Committee of Ukraine (the AMC).

The merger of these industry pioneers was aimed at creating a global hearing aid leader, WS Audiology, with a merged company value of more than €7bn. WS Audiology is expected to have revenues of approximately €1.6bn and will employ more than 10,000 people worldwide.

Following an in-depth market investigation initiated by the AMC, the parties presented well-structured and strong arguments to the AMC proving the absence of competition concerns as the result of the merger. Having analyzed detailed market studies along with reactions of market players and state stakeholders, the AMC agreed with the findings and conclusions of the parties and approved the transaction in a timely manner.

The Sayenko Kharenko antitrust team advising on the project included counsel Valentyna Hvozd and associate Anastasia Bodnar, and was led by partner Vladimir Sayenko.

About Sivantos

Sivantos, formerly the hearing aid division of Siemens, was acquired by private equity fund EQT in 2015 with headquarters in Singapore. Sivantos is one of the leading hearing aid manufacturers worldwide. With its 5,950 employees, Sivantos’ international sales organization supplies hearing aids and complementary accessories to hearing care specialists and sales partners in more than 120 countries.

About Widex

Widex was founded in Denmark in 1956 and owned by the Tøpholm and Westermann families. Today, it is one of the world’s largest manufacturers of hearing aids. Widex hearing aids are sold in more than 100 countries around the world, and the company employs over 4,000 people worldwide.

 About EQT

EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.


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