COMPETITION COUNCIL CLEARS ACQUISITION OF ESTRELLA MAARUD HOLDING AS BY WR START UP 90 AS

On 19 June, the Competition Council (KT) cleared acquisition of 100 per cent of Estrella Maarud Holding AS shares by WR Start Up 90 AS. Hence, the latter company indirectly gained control of JSC Estrella Baltics.

Companies related to WR Start Up 90 AS are engaged in production of cheese snacks and wholesale trade. They sell sweets, food supplements, coffee and sugar and produce the latter two.

Companies related to Estrella Maarud Holding AS including JSC Estrella Baltics are engaged in production of cheese snacks and wholesale trade.

Parties to the merger indicated that when implementing the merger they assume non-compete obligations.

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.