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AMCU permits owner of UkrLandFarming Bakhmatiuk, his partner Piazza installment payment for uncoordinated lease of poultry farms

KYIV. May 5 (Interfax-Ukraine) – The Antimonopoly Committee of Ukraine (AMCU) allowed five legal entities belonging to the owner of the UkrLandFarming agricultural holding and his partner Nick Piazza (U.S. citizen) to pay in installments a fine imposed on them on December 29 for subleasing poultry farms in different regions of Ukraine without obtaining permission from the state regulator.

The relevant decision was taken by the Committee at its meeting on April 29.

According to the Antimonopoly Committee of Ukraine, Piazza-controlled Trade Agro LLC (Stepanivka village, Sumy region), private research and production company Interbusiness (Kyiv), Menske-Agro (Chernihiv), Bakhmatiuk-owned Snovych LLC (Dolyna village, Ivano-Frankivsk region), and Trading House Moloko LLC (Ivano-Frankivsk) are entitled to installment payment of the fine imposed by the decision of the Committee of December 29, 2021 in case No. 126-26.13/153-21.

Earlier it was reported that on December 29, 2021, the Antimonopoly Committee of Ukraine recognized the above five companies and Nevhodivske LLC (the village of Nevhody, Zhytomyr region, owned by Piazza) as violators of Ukrainian legislation on the protection of economic competition by obtaining the right to use a number of assets for production of chicken eggs in different regions of the country.

It is clarified that these six legal entities leased the following production facilities: PrJSC Vidradnenske (Vidradne village, Zaporizhia region) owned by Oleksandra Bunetska, Investment Company Agricultural Union-RP LLC (village Mliyiv, Cherkasy region) owned by citizen of Cyprus Georgiades Manolito, Zolotonosha poultry farm (village of Kovtuny, Cherkasy region) owned by citizen of Cyprus Lumbouri Riana, PrJSC Berezanska poultry farm (village of Sadovoe, Kyiv region) owned by citizens of Cyprus Sofiia Orfanou and George Valiantis.

Such assets also include Poultry Farm Kyiv LLC (Kyiv) owned by Orfanou, Lumbouri and George Valiantis and Starovirivsky Poultry Complex owned by Manolito (Kharkiv).

American Piazza founded SP Advisors investment company in 2011, which provides investment banking services in Ukraine and other countries of Eastern Europe. Prior to that, he was the CEO of the Galt & Taggart Securities group of companies (later BG Capital), operating in the markets of Ukraine, Georgia and several other CIS markets (excluding Russia), and even earlier, until 2008, he was the director of corporate relations at Concord Capital (Kyiv).

Piazza is listed as the beneficiary of the once large agricultural PrJSC Rise Company, which was included in Oleh Bakhmatiuk’s UkrLandFarming (ULF) agricultural holding in 2010, but has recently been in bankruptcy proceedings. Piazza controls Rise through TNA Corporate solutions LLC.

UkrLandFarming was one of the largest agricultural holdings in Eurasia. It is engaged in cultivation of cereals, breeding of cattle, distribution of machinery, fertilizers and seeds.