Russia’s Antimonopoly Service blocks Siberian deal

Russia’s Antimonopoly Service blocks Siberian deal

Russia’s Federal Antimonopoly Service (FAS) has disallowed a deal for cement producer Russkyaya Tsementanaya Kompania to acquire a 100 per cent shareholding in fellow cement producer Iskitimtsement, according to local press reports.

In its ruling, the FAS said it believed the deal would result in limited competition in the Siberian cement market and increased prices, SKIRIN news agency reported.

The FAS had previously blocked the sale of a 90 per cent stake in Iskitimtsement to Sibirsky Cement on the same grounds.

Iskitimtsement is part of the RATM holding. According to its preliminary results, last year Iskitimtsement produced 1.5Mt of cement, up 17.2 per cent YoY and 1.337Mt of clinker, a rise of 20.1 per cent YoY.