COMPETITION COUNCIL CLEARS ACQUISITION OF UAB ECOSERVICE BY AWT HOLDING, UAB

On March 18, the Competition Council (the KT) cleared acquisition of 100 per cent UAB Ecoservice shares by AWT Holding, UAB.

AWT Holding, UAB is a special purpose company managed by BaltCap funds. BaltCap investment funds are financed by institutional investors such as European Investment Fund, European Bank for Reconstruction and Development, etc.

UAB Ecoservice and the related companies are engaged in the collection, transportation and processing of secondary raw materials and household waste.

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.