Acquisition of 400MW District Heating and Electricity Plant is Cleared by Competition Authority
Borislav Boyanov & Co. represented the Russian conglomerate Mechel in the merger control procedure to review its proposed acquisition of sole control over the district heating and electricity company in Ruse, Bulgaria, Toplofikatsia – Ruse. Toplofikatsia – Ruse is the sole district heating operator in the Ruse region, and also has two condensing power generation units (of which one is currently operational), in all having total installed capacity of 400MW.
Mechel is one of the leading Russian companies, whose business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, steel, ferrochrome, ferrosilicon, rolled products, hardware, heat and electric power. It mines and sells coal and coke worldwide from the mines owned by it in Kuzbass and Yakutsk mining regions in the Russian Federation.
The Bulgarian Commission on Protection of Competition (CPC) unconditionally approved the proposed acquisition on October 19, 2010.
Borislav Boyanov & Co.’s team supporting Mechel in the merger control procedure was led by partner Peter Petrov.
Copyright picture: Mechel