Antimonopoly Committee of Ukraine fined DE “Milkiland Ukraine”
Kiev, 31 December 2010 – Antimonopoly Committee of Ukraine (“AMCU”) by its resolutions dated 30 December 2010 imposed a fine of UAH60 thousand (approx. EUR5,7 thousand) at DE “Milkiland Ukraine” for non-obtaining the prior AMCU merge control approvals of indirect purchasing of the shares in the capital of OJSC “Chernigiv Diary Plant” and direct purchasing of the shares in the capital of LLC “Molochni Vyroby” (both situated in the city of Skvira, Kiev region, Ukraine).
By these resolutions AMCU also permitted DE “Milkiland Ukraine” to obtain the control of OJSC “Chernigiv Diary Plant” and of LLC “Molochni Vyroby” with some conditions to be fulfilled, including the imposing of economically sound prices for raw milk and non-limitation of the competition in the local milk market of Chernigiv region where these companies carry on their business.
Comment of Vyacheslav Rekov, CEO, Milkiland N.V.:
“Our company consider the resolutions of Antimonopoly Committee of Ukraine as reasonable and accepted to pay the fine of UAH60 thousand to the State budget.
We also would like to admit that AMCU granted us with the retrospective approvals of the transactions of the acquisition of OJSC “Chernigiv Diary Plant” and of LLC “Molochni Vyroby” pertaining the establishment of the Milkiland Group and accomplished in the year 2007.
In our view such decision of AMCU is one of the results of the implementation of our policy aimed at the development of the transparent business in line with the public status of Milkiland N.V.”
About Milkiland N.V.
Milkiland is a TOP-5 diversified dairy producer operating in Russia and Ukraine offering a wide range of dairy products such as fresh dairy, cheese, and butter, to satisfy consumers in their everyday needs for healthy and tasty foods.
In Russia, the company produces fresh dairy products at Moscow-based OJSC “Ostankino Milk Combine” and sells under Ostankinskaya brand. Also, Dobryana Ukrainian cheese is sold in many Russian cities, including Moscow, St. Petersburg, Voronezh, Nizhniy Novgorod, Saratov, Kaluga, Chelyabinsk, Orel, Ekaterinburg, Omsk, and Kaliningrad.
In Ukraine, the company controls 10 plants producing wide range of dairy products. Its cheese, fresh dairy and butter are widely available across all Ukrainian cities under brands Dobryana and Kolyada. Milkiland exports dairy products from Ukraine to over 30 countries.
Milkiland N.V. is a Dutch holding company controlling the Group. The revenue of the company in the year 2009 was EUR 200mn, net profit EUR 8.2mn. DE “Milkiland Ukraine” is its 100% subsidiary controlling the business of the Group in Ukraine. Shares of Milkiland N.V. have been listed on the Warsaw Stock Exchange since December, 6, 2010.
For more information please contact:
IR Officer of Milkiland N.V.
tel. + 380 67 327 9838 b