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ANTI-MONOPOLY COMMITTEE OF ARMENIA BANS ACQUISITION OF SHAHNAZARYAN WINE-BRANDY HOUSE LLC BY SWISS HELVELEX AG FOR 22 MLN FRANKS
by Arthur Yernjakyan
ARMINFO
Friday, March 14, 16:48
The State Committee for Protection of Economic Competition of Armenia
has banned a deal on 100% amalgamation of Shahnazaryan Wine-Brandy
House LLC by Helvelex AG, a Switzerland-based wholesale, finance and
trading company.
The Committee adopted the given decision on 14 March casting doubt
on the company's source of financing. The total capital of the Swiss
company engaged in sale of strong drinks is some 50,000 Swiss franks.
The company's representative failed to answer the question by Committee
Chairman Artak Shaboyan as to whether the
Swiss company has 22 mln franks to acquire the Armenian company.
Another argument against the deal is the market centralization. The
Committee considered the deal as an attempt to strengthen the
dominating position in the market.
At the Shahnazaryan Wine-Brandy House LLC they refused to comment on
the deal to ArmInfo's correspondent unless the company leadership is
in the country.
Shahnazaryan Wine-Brandy House LLC is not a big producer of wines
and brandy. Neither the company publishes its financial reports. The
company's place in the list of 1000 big taxpayers of Armenia in 2012
was only 884. The company paid 92 million drams to the state budget
in 2012.
From: Baghdasarian
by Arthur Yernjakyan
ARMINFO
Friday, March 14, 16:48
The State Committee for Protection of Economic Competition of Armenia
has banned a deal on 100% amalgamation of Shahnazaryan Wine-Brandy
House LLC by Helvelex AG, a Switzerland-based wholesale, finance and
trading company.
The Committee adopted the given decision on 14 March casting doubt
on the company's source of financing. The total capital of the Swiss
company engaged in sale of strong drinks is some 50,000 Swiss franks.
The company's representative failed to answer the question by Committee
Chairman Artak Shaboyan as to whether the
Swiss company has 22 mln franks to acquire the Armenian company.
Another argument against the deal is the market centralization. The
Committee considered the deal as an attempt to strengthen the
dominating position in the market.
At the Shahnazaryan Wine-Brandy House LLC they refused to comment on
the deal to ArmInfo's correspondent unless the company leadership is
in the country.
Shahnazaryan Wine-Brandy House LLC is not a big producer of wines
and brandy. Neither the company publishes its financial reports. The
company's place in the list of 1000 big taxpayers of Armenia in 2012
was only 884. The company paid 92 million drams to the state budget
in 2012.
From: Baghdasarian