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OWNER OF SHOPPING MALLS RECEIVES MERGER CLEARANCE

12 11 2019
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Konkurencijos taryba cleared the acquisition of 100 per cent of FORUMAS shares and sole control by Deka Immobilien Investment GmbH, member of the German group of companies Deka Group. Indirectly through FORUMAS the German company will also acquire 100 per cent of the shares and sole control of FORUMAS 1, FORUMAS 2, FORUMAS 3 and FORUMAS 4.

On 14 October 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.

Deka Immobilien Investment GmbH is a subsidiary of DekaBank Deutsche Girozentrale which belongs to Deka Group together with some other undertakings.

Two companies of Deka Group which engage in business activities in Lithuania are Kauno audinių projektas (owner and manager of the shopping mall Akropolis in Kaunas) and Entum (owner of the shopping mall BIG in Vilnius). Both firms are renting retail trade premises in the aforementioned shopping malls.

UAB FORUMAS and the aforementioned four companies, the control of which is acquired, own the office complex Quadrum which also comprises an underground parking and three administrative buildings. The companies are renting office and retail trade premises.

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.