COMPETITION COUNCIL ALLOWS UAB BALTIC PETROLEUM TO ACQUIRE UAB BENDIDA

On November 21, the Competition Council (the Council) allowed UAB Baltic Petroleum to acquire up to 100 per cent of UAB Bendida shares.

UAB Baltic Petroleum is engaged in a retail trade of automotive fuels in petrol stations.

UAB Bendida is engaged in a wholesale and retail trade of petroleum products.

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.