MOSCOW, August 3. /TASS/. The Federal Antimonopoly Service (FAS) of Russia satisfied the application of South Korea’s Hyundai to purchase 94.83% in the General Motors plant located in St. Petersburg, the regulator said on Monday.
"FAS of Russia has considered the application of Hyundai Motor Manufacturing Rus Limited Liability Company on obtaining the ownership of 94.83% core production facilities of General Motors Auto Limited Liability Company situated in the territory of Russia," the service says. "It has ascertained that the deal stated in the application will not lead to competition limiting. Being governed by Paragraph 1, Part 2 of Article 33 of the Law on protection of Competition, FAS of Russia made the decision to uphold this application," the watchdog says.