Sayenko Kharenko secures clearance from the Antimonopoly Committee of Ukraine for the acquisition of Acetate Products, Ltd by Celanese Corporation

05.01.2007

The Antimonopoly Committee of Ukraine (the "AMC") granted its approval to Celanese Corporation for the acquisition of the cellulose acetate flake, tow and film business of Acetate Products, Ltd, a subsidiary of Corsadi B.V. The transaction proposed combining two global leaders in the supply of acetate tow. In its analysis of the Ukrainian market of cellulose acetate tow, the AMC took into account evidence showing that this market is open for international trade. The AMC concluded that the transaction will not lead to the monopolization of any product market in Ukraine.

Partner Vladimir Sayenko comments: "The approval of this transaction sets an important precedent for the development of Ukrainian competition law. When looking at a market that depends totally on imported goods, Ukrainian competition authorities went beyond the traditional analysis of the parties’ market share at the national level. Instead, they took into account competition in the European and world-wide markets, following the approach of competition authorities in other European jurisdictions."

Celanese Corporation is a global leader in the chemicals industry and is a leading global producer of acetyl products, including acetic acid and vinyl acetate monomer, polyacetal products, as well as a leading global producer of high-performance engineered polymers used in consumer and industrial products and designed to meet highly technical customer requirements. Prior to completion of the transaction, Acetate Products, Ltd., located in the United Kingdom, was a manufacturer of cellulose acetate flake, tow and film.