The sale of Senta sugar factory only after the decision of Commission for Protection of Competition – Agreement between Sunoko and Agrana on hold

(Photo: sunoko.rs)

This was said for Blic by Miloje Obradovic, president of the Commission, after MK Group had announced that it had signed the pre-agreement with one of Europe’s largest sugar manufacturers.

- We support the arrival of new investors in all Serbian industries, but we will reach the decision on the admissibility of the concentration between Sunoko and Agrana only after the registration has been submitted and the effects which it might have on the Serbian market estimated. The memorandum of understanding signed between Sunoko and Agrana, whose contents we are not familiar with, is in no way influencing the inspection procedure which is being carried out in front of the commission – stated Obradovic.

He added that the company Sunoko filed, on March 31, 2016, the concentration established as a result of their takeover of 100% share at the company Star Secer d.o.o, by which it practically gained full control of the Sugar Factory TE-TO Senta.

- The Commission is carrying out the inspection procedure for all criteria stipulated by law based on which the admissibility of a concentration is determined. We reached the conclusion on May 16 this year and now we are intensively gathering the necessary information. We must finalize the procedure within four months of the day of the initiation of the procedure in official capacity – emphasized Obradovic.

When asked whether this meant that MK Group was not allowed to sign the agreement before the inspection procedure had been finalized, Miloje Obradovic said that he hoped that the foreign investor too would understand that. – The procedure which is being carried out in front of the commission needs to be finalized and only then can the new registration be considered – he explained.