COMPETITION COUNCIL CLEARS ACQUISITION OF 50,2 PER CENT SC AGROWILL GROUP SHARES BY BALTIC CHAMPS GROUP, JSC

On April 1, the Competition Council (the KT) allowed Baltic Champs Group, JSC to acquire 50,2 per cent of SC Agrowill Group shares and gain a sole control over the latter company.

Baltic Champs Group, JSC main activity is portfolio management. The related companies are engaged in plant growing, champignon mushroom cultivation and rent of agricultural land.

SC Agrowill Group is one of the biggest groups of companies in Lithuania that invest in agricultural sector. Companies of the Group are engaged in manufacturing and trade of raw products, creation and development of IT solutions. They also provide real estate management services, sell products for agricultural sector, organize trainings, consultations and undertake other activities within agricultural sector.

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.