The President of UOKiK has issued the consent to the takeover of Zakłady Azotowe Puławy by Synthos

Synthos is the company controlled by Michał Sołowow. Its major activity consists in manufacturing chemical raw matarials, in particular: emulsion India-rubber, polystyrenes, dispersion and industrial adhesives. Synthos owns 16 dependent undertakings, both Polish and foreign. ZA Puławy is listed on the Warsaw Stock Exchange and the Treasury is the company’s leading shareholder (50.67 percent). The company deals mainly with the production of nitrogen fertilizers, chemicals, peroxide compounds and technical gases. 10 dependent entities belong to the company, including Gdańskie Zakłady Nawozów Fosforowych „Fosfory”.

Under law a transaction is subject to notification to the antitrust authority, if it involves undertakings whose total turnover in the preceding year exceeded EUR 1 billion worldwide and EUR 50 million in Poland

Synthos made a call for ZA Puławy shares, which entitled to a 100-percent voting right at the General Meeting of Shareholders, and this gave grounds for the notification to UOKiK.

Having conducted the antimonopoly proceedings, the President of UOKiK decided that the concentration would not result in a significant restriction of competition.

Under the law, a transaction is subject to notification to the antitrust authority if it involves undertakings whose total turnover in the preceding year exceeded EUR 1 bln worldwide or EUR 50 mln in Poland.

In the event the concentration (to which a consent was issued) is not implemented within 2 years from the decision issuance, this decision is no longer valid. The Office’s website contains the data concerning all antimonopoly proceedings in concentration cases conducted by UOKiK. For more information on merging undertakings, please read the special elaboration.

Additional information for the media:
Małgorzata Cieloch, Spokesperson for UOKiK
Department of International Relations and Communication
Pl. Powstańców Warszawy 1, 00-950 Warszawa
Phone: +48 22 55 60 106
Fax: +48 22 826 11 86
E-mail: [SCODE]bWFsZ29yemF0YS5jaWVsb2NoQHVva2lrLmdvdi5wbA==[ECODE]