Politics 2022-05-15T05:00:34+03:00
Ukrainian news
AMCU Allows Silpo-Food To Acquire Control Over Furshet

AMCU Allows Silpo-Food To Acquire Control Over Furshet

amcu, Vyshneve, Fozzy Group, Silpo, Silpo-Food, Furshet, Furshet group

The Antimonopoly Committee of Ukraine (AMCU) has allowed Silpo-Food (Vyshneve, Kyiv region), a part of the Fozzy Group, to acquire control over the assets of the Furshet group.

The AMCU has said this in a statement, Ukrainian News Agency reports.

"Today, the Antimonopoly Committee of Ukraine has granted permission to Silpo-Food LLC (Fozzy Group) to acquire control over the assets of the Furshet group. Both participants in the concentration carry out retail trade mainly in consumer goods of daily demand," the statement reads.

It is noted that the AMCU analyzed the activities of the participants in the concentration within the cities where there is an intersection of their activities, in particular, in Vinnytsia, Ivano-Frankivsk, Poltava, Khmelnytskyi, Cherkasy, Kyiv Kiev and Kropyvnytskyi.

When considering the application for the concentration, the AMCU found that the aggregate shares of participants in the concentration in the regional markets within the respective territorial boundaries following the results of 2019 and the first nine months of 2020 do not reach 30%.

Concentration participants also experience competition from other participants in the regional markets involved.

At the same time, when considering the application, the participants in the concentration refused to acquire control over assets in settlements in which the shares were significant, and the concentration could lead to restriction of competition.

As Ukrainian News Agency earlier reported, in January, the Economic Court of Dnipropetrovsk region opened bankruptcy proceedings against subsidiary Retail Center, which owns the Furshet family-owned chain of stores.

The owner of the Retail Center is the Retail Trend company, which was owned by Ihor Balenko until August 2019, in August he transferred the company to his stepson Danylo Danylov.

Danylov controls Retail Trend through Locrin Holdings Limited, which, according to the declaration, previously also belonged to Balenko.

Balenko is the chairperson of the supervisory board of the Furshet chain.

Fozzy Group unites the chain of supermarkets Silpo, Fora neighborhood stores, Fozzy wholesale hypermarkets, Thrash! discounter, Bila Romashka pharmaceutical supermarkets, Ringoo electronics stores, as well as Nizhyn cannery (TM Nizhyn), LLC PKF Varto poultry farm.

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