COMPETITION COUNCIL ALLOWS AB AVIA SOLUTIONS GROUP TO ACQUIRE CONTROL OF HELISOTA

On December 12, the Competition Council (the Council) allowed AB Avia Solutions Group to acquire up to 100 per cent of UAB Helisota shares.

AB Avia Solutions Groupand the related undertakings provide integrated aviation related services such as aircraft maintenance, pilot and cabin crew training, aviation staff formation and leasing, charter flights, etc.

UAB Helisota is engaged in technical support, repair and upgrade of helicopters, technical support and repair of helicopter facilities as well as supply of helicopters and their spare parts.

Having evaluated all the circumstances related to the merger, the Council acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.

Notes

(1) Mergers (Concentrations) are cases when two independent undertakings merge or when one undertaking gains control over another. As these changes may restrict effective competition in a relevant market, mergers involving firms that exceed turnover limits established in the Law on Competition must be cleared by the Council. The Council authorises only such mergers that will not have significant adverse effects on the conditions of competition.

(2) Control means any rights arising from laws or transactions that entitle a legal or natural person to exert a decisive influence on the activity of an undertaking, including the right of ownership to all or part of the assets of the undertaking or the right to use all or part of such assets; other rights which confer a decisive influence on the decisions or the composition of the undertaking’s personnel.