ESTONIAN UNDERTAKING CAN ACQUIRE TWO ORGANIC PRODUCT COMPANIES IN LITHUANIA
The Lithuanian competition authority Konkurencijos taryba cleared the acquisition of 100 per cent of UAB Bio Sala shares (also indirect acquisition of 100 per cent of UAB Sveiki produktai shares) and sole control by the Estonian company BaltCap indirectly through BaltCap Growth Fund EuVECA.
On January 18 Konkurencijos taryba received merger notification. Having evaluated the circumstances related to the transaction, the authority acknowledged that the intended merger would not create or strengthen the dominant position, or significantly restrict competition on the relevant markets.
BaltCap, one of the largest private equity and venture capital firms in the Baltic States, invests in small and medium-sized enterprises. BaltCap Growth Fund EuVECA UF controlled by BaltCap is also investing in various small and medium-sized enterprises in the Baltic States.
Other related undertakings sell and rent beverage machines for offices, sell snacks and drinks via the vending machines, provide software development services for beverage and vending machines, are also engaged in the activities related to waste collection and management, road construction, construction, investment, digital advertising services, sport clubs activities, real estate management, office rentals, etc.
Bio Sala is engaged in the wholesale and retail trade of healthy, organic, natural and other food and non-food products (mainly cleaning and cosmetic products) in Lithuania. Similar activities are carried out by its controlled company Sveiki Produktai (BaltCap is acquiring indirect control of it).
Bio Sala controlled 100 per cent of Sveiki produktai shares prior to the transaction. Konkurencijos taryba has not examined the merger between the respective companies.
The intended merger must be notified to the Konkurencijos taryba and clearance must be obtained if the combined aggregate income of merging parties in the business year preceding the merger exceeds EUR 20 million and the aggregate income of each of at least two merging parties in the business year preceding the merger exceeds EUR 2 million.