SSL/Reckitt Beckinser: Russian antitrust regulator has application
Reckitt Beckinser, the listed British consumer goods producer, has filed an application to Russian antitrust regulator FAS to acquire the Russian subsidiary of SSL, according to an FAS spokesperson.
Asked whether Reckitt has applied for FAS approval of the acquisition of SSL, a FAS spokesperson said that on 20 August the regulator had received an application from Reckitt Beckinser to "acquire rights that would enable to define the business activities" of Medkom MP.
According to Russian and Ukrainian media reports, Medkom MP is the Russian subsidiary of SSL and the largest condom distributor in Russia.
It is unlikely that Reckitt Beckinser will have any serious problems receiving the approval from FAS, said Konstantin Bondarenko, a lawyer with Egorov, Puginsky, Afanasiev and Partners.
Reckitt’s and SSL’s markets do not overlap; therefore, an acquisition would not lead to any of these companies changing their market share, the lawyer added.
If the document package presented by Reckitt is complete, FAS would take up to 30 calendar days to assess the bid. If there are indications that the acquisition would lead to limiting competition on the market, the regulator may additionally take up to two months for assessment of the application, the lawyer added.