OREANDA-NEWS. February 22, 2008. The Federal Antimonopoly Service (FAS Russia) considered a petition of Nopolipetsk Steel OJSC on purchasing 100 % voting shares of the registered capital of "Maxi-Groupp" OJSC, reported the press-centre of FAS Russia.

Nopolipetsk Steel OJSC - is one of the largest metallurgical companies in Russia. It is added to the Register of Economic Entities, whose share of a particular goods market exceeds 35% on a number of items.

"Maxi-Groupp" OJSC controls several electro-metallurgical plants and economic entities involved in collection, processing and selling iron-and-steel and non-ferrous metal scrap.

Documents, presented by Nopolipetsk Steel OJSC together with the petition, contained misleading information regarding persons - members of the same group of persons with Nopolipetsk Steel OJSC. At the time of submitting the petition, the Nopolipetsk Steel OJSC had already possessed the controlling block of shares of "Maxi-Groupp" OJSC and failed to notify FAS Russia about it.

Governed by Clause 5 Part 2 Article 33 of the Federal Law "On Protection of Competition", FAS Russia decided to dismiss the petition.

Moreover, in course of processing the petition, FAS Russia found grounds to initiate administrative cases for violating Clause 1 Part 1 Article 28 and Clause 5 Part 2 Article 33 of the Federal Law "On Protection of Competition".

As stated by the Head of the Department for Industry Control, Mr Alexei Ulyanov: "It was one of the major transactions in the iron-and-steel industry in 2007. Processing the petition revealed that the transaction had been accomplished before obtaining approval from FAS Russia. Concluding such a major transaction without approval by the antimonopoly authority is absolutely unacceptable. Currently we are investigating further actions towards the Company, such as imposing penal sanctions".