OREANDA-NEWS. November 27, 2009. "Oboronprom" United Industrial Corporation OJSC ("Oboronprom" UIC" OJSC) paid in full the fines imposed by the Federal Antimonopoly Service (FAS Russia) for infringing the procedures for filing petitions to the antimonopoly authority, when the company had completed transactions for acquiring 100% voting shares of "Klimov" OJSC, 25.5% voting shares of "Krasny Oktyabr" OJSC and 50%+1 voting shares of "Moscow Machine-Building Enterprise named after Chernyshov" OJSC, reported the press-centre of FAS Russia.

The total fines amounted to 900,000 Rubles.

In Q2 2009, "Oboronprom" UIC" OJSC bought the above packages of voting shares without prior consent of the antimonopoly authority.

In August 2009, upon establishing the fact of completing those transactions, FAS Russia initiated administrative proceedings against "Oboronprom" UIC" OJSC for the signs of infringing the established procedures for filing petitions to the antimonopoly authority.

Under Part 3 Article 19.8 of the Code of the Russian Federation on Administrative Violations, legal entities that commit such violations are administratively liable and can be fined from 300,000 to 500,000 Rubles.

Upon completing the administrative investigation, FAS Russia fined "Oboronprom" UIC" OJSC 300,000 Rubles for each discovered fact of a transaction, completed in breach of the procedures established by the antimonopoly law.