ACQUISITION OF „KIETAVIŠKIŲ GAUSA“ AUTHORISED BY THE COMPETITION COUNCIL

By its resolution the Competition Council decided to authorize UAB „Domeina“, UAB „Šiaulių banko investicijų valdymas“, G. Rukša, A. Pranckietis and E. Šimonienė to implement concentration by acquiring up to 100 percent of shares of AB „Kietaviškių gausa“ and acquiring a joint control in accordance with the submitted notification. The Competition Council concluded that the notified concentration will not result in a creation or strengthening of a dominant position or significant restriction of competition in the Lithuanian market for vegetable cultivation and wholesale trade.

In early December 2004, the SE State Property Fund announced the successful bidder of the public tender concerning the acquisition of 98.81 percent of shares of AB „Kietaviškių gausa“ owned by the State. The tender was awarded to the consortium composed of UAB „Domeina“, UAB „Šiaulių banko investicijų valdymas“, G. Rukša, A. Pranckietis and E. Šimonienė. As the combined aggregate income of the undertakings participating in the concentration exceed the threshold established for the purpose of the concentration control, the undertakings concerned were under obligation to obtain the permission of the Competition Council to implement the concentration.

In the submitted notification the applicants indicated that UAB „Domeina“ engaged in wholesale trade in agricultural production and seeks to ensure adequate quality and uninterrupted supply of agricultural produce, and the primary purpose of UAB „Šiaulių banko investicijų valdymas“ is profit generating investment. The main area of activity of AB „Kietaviškių gausa“ is cultivation of vegetables in protected ground, and growing of flowers (roses).