Russia’s Federal Antimonopoly Service (FAS) issued an order to OJSC Severalmaz and OJSC Almazy Anabara (both companies are owned by AK ALROSA) for acquisition of 100% share in OJSC Nizhne-Lenskoye, Business-TASS reported citing materials of the state agency.
Following realization of the above transaction the aggregate market share of group of companies including Severalmaz, OJSC Almazy Anabara, AK ALROSA) and OJSC Nizhne-Lenskoye, at the Russian diamond market will exceed 99%.
Subject to the terms of the order issued by FAS, ALROSA shall undertake to secure fulfillment of all contracts and agreements in force on the date of transaction and related to sales of rough diamonds mined by OJSC Nizhne-Lenskoye.
Moreover, with the view of prevention of monopolistic activities, AK ALROSA shall secure compliance of the rough diamond trading activities of OJSC Nizhne-Lenskoye to draft provisions “On the order and terms of rough diamond sales of AK ALROSA, agreed by FAS, immediately after completion of the transaction.
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