KYIV, Aug 31 (Reuters) - Ukraine’s State Antimonopoly Committee has withheld approval of privately owned conglomerate DCH’s proposed purchase of a 25% stake in national aircraft engine maker Motor Sich from Chinese investors, DCH said on Monday.
It said in a statement that the committee had returned an application for approval of the purchase and requested more information. DCH has the right to submit a new application, the conglomerate said.
The committee was not immediately available for comment.
Chinese investors, represented in Ukraine by Skyrizon Aircraft Holdings Limited, announced a cooperation deal with DCH on Aug. 12 but gave no details.
“The Antimonopoly Committee of Ukraine did not accept the application (by DCH) for consideration,” said DCH, which is owned by Ukrainian businessman Oleksandr Yaroslavsky.
The committee listed “technical procedural points which justify the Committee’s decision and (made) a request for additional information.”
Motor Sich severed ties with Russia, its biggest client, after Russia annexed the Crimea peninsula from Ukraine in 2014, and uncertainty over its future ownership has held up efforts to find new markets.
Skyrizon holds around 80% of Motor Sich though several foreign companies. The remainder is held by small shareholders.
Last year, the Antimonopoly Committee started an investigation into Skyrizon’s stake in Motor Sich. A Committee spokeswoman said earlier this month that the regulator was continuing this investigation. (Reporting by Pavel Polityuk, Editing by Timothy Heritage)
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