Russia’s Federal Antimonopoly Service (FAS) has blocked the acquisition of Atakaycement by AO Actual Investments and OAO Novoroscement.

FAS concluded after a market analysis that if the transaction went ahead, the aggregate share of the corporate group Actual Investments, Novoroscement and Atakaycement in the Southern and Northern Caucasus federal districts would exceed 50 per cent in terms of sales and production capacity.

The acquisition would enable Actual Investments and Novoroscement to influence the general conditions of cement supply in the districts, which under certain conditions could restrict competition in this product market.