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The Antimonopoly Committee of Ukraine denies China's application for a controlling stake in Motor Sich

The Antimonopoly Committee of Ukraine rejects China's application for a controlling stake   «Motor Sich»
Antimonopoly Committee of Ukraine (AMCU) for the third time returned the application of the DCH group without consideration (Development Construction Holding) and a Chinese investor PJSC “Motor Sich” Skyrizon on obtaining approval for the concentration of a controlling stake.

As noted, AMCU for formal reasons refuses Chinese investors to concentrate a controlling stake “Motor-Sich”. Chinese investors intend to submit another application for concentration in the near future. Besides, they sent a claim to the Economic Court. Kiev with the requirement to recognize illegal the decision of the AMCU.

As previously reported, the companies Skyrizon and Xinwei Technology from China and the Ukrainian industrial group DCH intend to sue Ukraine 3,5 billion. The plaintiffs will be represented by three international law firms, established as one of the most reputable in the world. This is WilmerHale, DLA Piper и Bird & Bird.

In the past year “Motor Sich” announced his intention to sell half of the company's shares to the Chinese, but the Ukrainian authorities demanded to stop the deal and freeze the company's accounts. The United States also expressed dissatisfaction with the deal. apparently, from the American filing everything happened. As a result, Chinese companies are unable to exercise their property rights due to the actions of Ukrainian government agencies. They regard these steps by Kiev as an attempt “expropriating their investments”.

At the same time, Kiev does not exclude, what shares “Motor-Sich” can get Turkey, and not China. Only yet unknown, how Kiev intends to transfer the enterprise to Turkey, since shares “Motor Sich” de facto already owned by a group of investors from China, they are simply arrested. Also unknown is the US reaction to the future transfer of the enterprise to the Turks..

A source