COMPETITION COUNCIL CLEARS ACQUISITION OF UAB MCT BY PRACTICA VENTURE CAPITAL

On September 29, the Competition Council (KT) cleared a merger between KŪB Practica Venture Capital and UAB MCT.  KŪB Practica Venture Capital acquired convertible bonds of UAB MCT on the basis of investment agreement and, thus, gained the control of the latter company.

KŪB Practica Venture Capital invests in the development of private companies and seeks for the expansion of established businesses.

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.