It is reported that the Federal Antimonopoly Service satisfied the application of OJSC Zapadnyi Tsentr Sudostroyeniya for the acquisition of 79.33% of voting shares of OJSC Vyborgskiy Sudostroitelnyi Zavod submitted on December 6 2011.

The principal economic activity of both OJSC Zapadnyi Tsentr Sudostroyeniya and OJSC Vyborgskiy Sudostroitelnyi Zavod is building and repair of vessels of various types as well as floating drilling platforms.

In case the transaction applied for is successful, the group of persons of ZTsS will increase its share in the market of building floating and stationary ice-breaking drilling platforms ensuring its dominant position in the related commodity market. Besides, the group of persons of ZTsS will thus increase its share in the market of ' class vessels and auxiliary vessels for drilling platforms.

In view of the above-mentioned, the transaction applied for can result in the restriction of competition in the specific commodity market, FAS established. This decision is therefore only effective if the related order of FAS of Russia is complied with.

(Sourced from AK&M)