COMPETITION COUNCIL CLEARED MERGER RELATED TO SALE-PURCHASE OF UAB CGATES GROUP SHARES

On August 23 the Competition Council cleared the merger whereby the Latvian company AS EuVECA Livonia Partners and the Estonian company AS LHV Varahaldus indirectly through Silver Screen Holdings UAB acquired 34,8 per cent of UAB Cgates Group shares and joint control together with the Estonian companies OÜ Polaris Invest and OÜ Com Holding.

On July 31 the Council received merger notification. Having evaluated all the circumstances related to the transaction, the Council acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.

The intended merger must be notified to the Competition Council and clearance must be obtained if the combined aggregate income of merging parties in the business year preceding the merger exceeds EUR 14.5 million and the aggregate income of each of at least two merging parties in the business year preceding the merger exceeds EUR 1.45 million.