AMCU fines American company over UAH 2 million for acquiring Ukrainian agroholding firms without permission

The Antimonopoly Committee of Ukraine has fined the company of American Nicholas Piazzi for UAH 2.2 million for the acquisition of 14 enterprises of Ukrlandfarming without permission.

This is reported by Interfax-Ukraine.

At a meeting on December 4, the Antimonopoly Committee of Ukraine decided to fine the company TNA Corporate Solutions LLC (USA) of American Nicholas Piazzi for more than UAH 2.2 million for violating the law when implementing a concentration when acquiring shares in the authorized capital of 14 enterprises that were part of the agricultural holding Ukrlandfarming, created by businessman Oleg Bakhmatyuk.

In particular, this concerns LLC Agrarian Holding Avangard. The company’s revenue in January-September amounted to more than UAH 3.8 billion, which is five times more than in the same period last year. The agricultural holding’s net profit amounted to UAH 52.5 million against a net loss of UAH 89.2 million a year earlier.

Also on the list are LLC “Financial Consulting Company “Avangard Ltd””, LLC “Trade-Agro”, LLC “Agrarian Perspective”, LLC “Agricultural Enterprise Vesna 21”, joint Ukrainian-English enterprise “Dubnotsukoreinvest” in the form of LLC, LLC “Budyscha”, LLC “Vilna Sloboda”, private scientific and production company “Interbusiness”, LLC “Zoloty Lan-N”, private agricultural enterprise “Dobrobut”, TO “Saan-Agro”, LLC “Distribution Company Agrotech” and LLC “Hetmanske”.

In October 2024, Ukrlandfarming reported that the lawsuits filed by Gramercy Funds Management LLC and its affiliates against Bakhmatyuk, Piazza, Oleksandr Yaremenko, SP Capital Management LLC, TNA Corporate Solutions LLC and/or Maltofex Ltd were “voluntarily withdrawn with final waiver of claims,” and the parties entered into a confidential settlement agreement. Earlier, USM reported that Bunge had completed a deal to acquire the North West Terminal grain terminal in Canada.