OREANDA-NEWS. July 18, 2011. The Federal Antimonopoly Service is considering a petition of “OSNOVA” Industrial Insurance Group” Ltd. (main activities: insurance, reinsurance; location: 27/24, Spiridonovka St., Moscow, 123001) on acquiring 69.85% shares of the authorized capital of “Admiral” Insurance Group” Ltd. (main activities: insurance; location: 62, Voroshilovsky Prospekt, Rostov-on-Don, the Rostov region, 344010), which jointly with the shares possessed by the buyer will reach 74.84% (69.85%+4.99% accordingly) (Registration No. 34785 of 22nd June 2011) (further on referred to as the Petition), reported the press-centre of FAS Russia.

As a result of considering the Petition, FAS Russia established that the petitioned transaction can restrict competition on the insurance market.

Under Clause 2 Part 2 and Part 3 Article 33 of No.135-FZ Federal Law “On Protection of Competition” of 26th July 2007, the Federal Antimonopoly Service considered the Petition and extended the period for Petition consideration for two months in order to additionally examine the petition and obtain additional information.

Interested persons can submit information to the Federal Antimonopoly Service as to how the petitioned transaction can affect the state of competition.