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The Antimonopoly Office of the Slovak Republic approved the acquisition of company Kosit

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On 23 October 2014 the Antimonopoly Office of the Slovak Republic, Division of Concentration approved the merger grounded in acquisition of indirect joint control of undertakings Ján Sýkora, seated in Prague, the Czech Republic, Ľubomír Šoltýs, seated in Bratislava, the Slovak Republic, Vladimír Jaroš, seated in Prague, the Czech Republic over the undertaking Kosit a.s., seated in Košice, the Slovak Republic („Kosit“).
Acquirers Ján Sýkora, Ľubomír Šoltýs and Vladimír Jaroš perform joint control over the company WOOD & Company Group S.A., seated in Luxembourg („Wood & Co Group“), focused on new markets in Europe where it provides capital products, services of investment banking and management company. WOOD & Co Group acts in the Slovak Republic through various companies belonging to its economic group. The companies are as follows:
  • Wood & Company, a.s., whose main activity is advisory and consultancy services in the field of economy and trade activities activities of economic consultants;
  • WOOD & Company Financial Services, a.s. active in the area of providing investment services and investments consulting;
  • Saneca Pharmaceuticals a. s., pharmaceutical producer aimed at production of medicines, active pharmaceutical ingredients and opiates, as well as providing services in the area of research and development, distribution and storage;
  • CHIRANA T.Injecta, a. s., producer of medical equipment and materials from plastics and metals (particularly syringes and injection techniques for disposable syringes). CHIRANA T.Injecta sells its products in more than 20 countries.
Moreover, Ján Sýkora controls companies Casiana, s.r.o. and CD ESTATES, s.r.o. acting at real estate’s market. Besides the activities within Wood & Co Group the acquirers have joint control over the company ALL-STAR HOLDING LIMITED (Malta), which within the notified merger indirectly acquires 66% share in the target company Kosit. Remaining 34% share will be still owned by Municipality of Košice also following the transaction.
Target company Kosit is a Slovak joint stock company providing complex services of waste management for the Municipality of Košice and the east Slovakian region.  At the regional level Kosit deals with waste collection, transport and disposal and with the summer and winter maintenance of roads. It also runs incinerator for energyrecovery of waste. KOSIT a.s. also holds the licence on production of heat and electricity.
Company Kosit has exclusive control over the company REMKO Sirník, s.r.o., which runs the landfillfor non-hazardouswasteand which will be subject to acquisition of exclusive control by the acquirers within the subjected transaction.
Neither acquirers, nor the companies belonging to the group of mentioned undertakings act in the same, not even vertically connected or closely relating product relevant markets, where the company Kosit operates. Since neither horizontal nor vertical overlapping between the activities of undertakings concerned has been identified in this case, the Office did not concludethe question of the precise definition of markets.
Evaluating all acquired documents and materials the Office concluded that the assessed merger does not infringe effective competition in the relevant market, mainly as result of creation or strengthening of dominant position and it approved the merger.

Decision came into force on 12.11.2014