FAS IS LAUNCHING AN INVESTIGATION OF THE CIRCUMSTANCES OF THE AUCITON FOR “ALROSA” GAS ASSETS

12-01-2018 | 12:39

The auction documentation contained signs of competition restriction

 

FAS took jurisdiction over a complaint of “Rosneft” PJSC against actions of “Alrosa” PJSC in the course of an open auction for selling 100% shares of “Maretiom Investments” Limited and 100% shares of “Velarion Investments” Limited, owned by “Alrosa” PJSC (the main assets of the companies - 100% shares of “Geotransgaz” JSC and 100% participatory interest in the authorized capital of “Urengoi Gas Company” Ltd.).

 

According to the auction documentation, the initial auction prices is 30 billion RUB, advance amount - 21 billion RUB, the advance deadline - 10 January 2018, the auction finalizing date – 19 February 2018.

 

FAS shall study whether the requirements in the auction documentation conform to the Law “On Protection of Competition”.

 

In particular, FAS will assess whether the size of the advance amount for taking part in the auction and the advance deadline could possible be a barrier for the participants. FAS will also check if the bidding deadline set by “Alrosa” PJSC conforms to the deadlines necessary to obtain an approval of the transaction by the antimonopoly body as part of control over economic concentration and under the Law on foreign investments in strategic economic entities.

 

FAS shall also verify the arguments put forward by the petitioner that “Alrosa” did not disclose information about the end beneficiaries of the companies, which created preferential conditions for some potential bidders.

 

The complaint will be investigated on 15 January 2018.