UAB KONCERNAS ACHEMOS GRUPĖ FINED FOR UNNOTIFIED MERGER
The Competition Council found that UAB koncernas Achemos grupė implemented an unnotified merger by acquiring sole control of UAB Jūros vartai and AB KLAIPĖDOS LAIVŲ REMONTAS. For the infringement of the Law on Competition, the Council fined Achemos grupė EUR 54,700.
During the investigation the Council found that Achemos grupė, which acquired control of the aforementioned companies, submitted a merger notification only a year and a half after the merger had been implemented. Having examined the merger notification, the Council granted clearance. For an unnotified merger Achemos grupė received EUR 54,700 fine.
The Deputy Chairman Elonas Šatas noted that while imposing the fine the Council took into consideration the fact that Achemos grupė informed the Council about the infringement of the Law on Competition and later acknowledged it.
Implementing an unnotified merger is a serious infringement, irrespective of whether the Council would grant clearance or not
He noted that merger notification is not just a formal procedure since market changes influenced by the merger might restrict or weaken competition and negatively affect consumers. In order to prevent the aforementioned consequences, mergers can only be implemented if the Council‘s clearance has been obtained.