MOSCOW, September 19. /TASS/. Russia’s Federal Antimonopoly Service (FAS) has approved the application of the developer Sminex to acquire the Ingrad Group of companies, the regulator’s press service reported.

"The Service reviewed the application of Sminex Asset Management LLC to give consent to the acquisition of 100% of the voting shares of Ingrad PJSC," the regulator said.

FAS decided to grant its permit for the acquisition. According to the regulator, the deal will not limit competition in the real estate market.

According to the company's website, the Ingrad Group was founded in 2012 and has built more than 2 million square meters of housing to date. It ranks 20th in the developer rating in the Unified Information System for Housing Construction with an area of current construction of 712,000 square meters and a market share of 0.61%. on the Russian market. Sminex ranks 71st, building 252,000 square meters, which is 0.21% of the market.

The press service of Ingrad declined to comment on the FAS decision. TASS requested a comment from Sminex. The sum of transaction can be 35-40 billion rubles ($377-431 mln), according to experts previously interviewed by TASS.