NETHERLANDS-BASED COMPANY ACQUIRES BIOFUEL PRODUCER
Konkurencijos taryba cleared the acquisition of 69 per cent of UAB Pusbroliai shares and sole control by the Netherlands-based company Genopas B. V.
On 13 September 2019 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 in the relevant markets.
Danpower Baltic, Danpower Baltic Taika elektrinė, Danpower Baltic Pakalniškių, GA Joniškis, Danpower Baltic Biruliškių, Danpower Baltic Paneriškių, Danpower Baltic Zietelos, Danpower Baltic Taika and other undertakings related to the investment company Genopas B. V. conduct the following activities: produce heat and energy from renewable energy sources, provide agricultural, as well as business and management consulting services, engage in sales, rent and maintenance of real estate, rent or lease of heavy motor vehicles, mining and quarrying, sales of agrochemical products, fertilizers, motor vehicle spare parts and components, retail and wholesale of construction and repair materials, household equipment and appliances, etc.
The company Pusbroliai is active in the production and trade of biofuel, as well as in the provision of forestry and brownfield management services. Its related undertaking PSBL Baltic is engaged in selling biofuel and providing transportation services.
The intended merger must be notified to 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.