COMPETITION COUNCIL CLEARS ACQUISITION OF SC AMBER GRID SHARES BY JSC EPSO-G

On 19 May, the Competition Council (the KT) cleared acquisition of 38.9 per cent of SC Amber Grid shares by JSC EPSO-G (all the company’s shares together with already owned ones will amount to 56.6 per cent). Hence, together with OAO Gazprom, JSC EPSO-G gained joint control of SC Amber Grid.

Moreover, the KT allowed JSC EPSO-G to acquire 100 per cent of SC Amber Grid shares and, thus, gain sole control of the latter company.

JSC EPSO-G controls companies within electricity sector. The mentioned companies provide electricity transmission services, control the infrastructure of electricity transmission, manage Klaipėda oil terminal and administer electricity and natural gas market, etc. JSC EPSO-G is a state-owned company controlled by the Ministry of Energy of the Republic of Lithuania.

SC Amber Grid is an operator of Lithuania’s natural gas transmission system and is in charge of transmission of natural gas to system users as well as operation, maintenance and development of natural gas transmission system.

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.