AUTHORISATION TO ACQUIRE „DROBĖ“ SHARES ISSUED

The Competition Council examined, at its meeting, the notification filed by the European Bank for Reconstruction and Development (EBRD) on intended concentration by acquiring up to 30% shares of the wool company AB „Drobė“.

The decision passed by the Competition Council authorised the EBRD, one of the major shareholders of AB „Drobė“, to implement concentration in accordance with the submitted notification. It has been concluded that the intended transaction will not affect the level of concentration in relevant markets, and consequently, neither will it result in the creation or strengthening of a dominant position, or significant lessening of competition in the relevant markets.

The principal activity of AB „Drobė“ is the production and marketing of yarn, wool and semi-wool fabrics for suits and dresses; production of cotton and synthetic fibre fabrics; sale of fabrics, fabric cuttings and other consumer goods, as well as products of individual economic activity.