COMPETITION COUNCIL CLEARS ACQUISITION OF 15 PER CENT OF AMBERWIND, UAB SHARES BY INDEPENDENT POWER PRODUCER GMBH

On October 9, the Competition Council (KT) cleared acquisition of 15 per cent of AMBERWIND, UAB shares by ENERCON Independent Power Producer GmbH (ENERCON). Together with Stemma Group, UAB the latter company acquired joint control of AMBERWIND, UAB.

ENERCON is engaged in the management of the companies that exploit wind farms.

Stemma Group, UAB is in charge of the construction of wind farms and production of electricity. Stemma Group, UAB also controls the companies engaged in the development and exploitation of the real estate.

AMBERWIND, UAB planned activity is the production of energy in wind farms. In the meantime AMBERWIND, UAB constructs wind turbines. The company has announced its plans to start producing wind power.

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