Ukrainian Merger Control Update: Will the Recent Upheaval Cause Problems for Global Deals?
Parties required to file premerger notification in Ukraine should coordinate closely with authorities and plan additional time for the review process in light of recent political events. I anticipate that recent political upheaval coupled with preexisting vacancies on the Ukrainian Anti-Monopoly Committee (AMCU) review panel and the expected appointment of a new AMCU Chair by Parliament could limit the resources available to review a growing number of filings and potentially delay merger clearances.
Pre-merger rules –
Transactions requiring the prior consent of the AMCU cannot be completed without receipt of such consent. Applicants must file applications with the central office of the AMCU (or a territorial division). The application is considered accepted for review if it has not been returned to the applicant within 15 calendar days after the filing. The AMCU must review the application and issue its decision within 30 calendar days from the date of its acceptance. Thus, the initial waiting period is typically 45 days from the submission of the merger questionnaire.
If specific concerns are identified that may prevent the transaction from being approved, the AMCU issues an order initiating a detailed examination of the transaction. The second phase of investigation or examination may not exceed three months.
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