COMPETITION COUNCIL‘S PRELIMINARY FINDINGS: UAB CONCRETUS MATERIALS, UAB VILNIAUS BETONAS AND UAB GG INVESTMENT PROVIDED INCOMPLETE INFORMATION NECESSARY FOR MERGER EXAMINATION
The Competition Council found that UAB Concretus Materials together with UAB Vilniaus betonas and UAB GG Investment (hereinafter – Companies) failed to provide complete and accurate information for the examination of a merger whereby UAB Concretus Materials intended to acquire up to 51 per cent of AB Akmenės cementas shares.
According to the Competition Council‘s preliminary assessment, the Companies did not identify the undertakings related to AB Akmenės cementas, namely, UAB Medis ir betonas and VšĮ Naujosios Akmenės sanatorija, and failed to provide information about their activities. The Companies also provided false information about the income of the merging parties in the business year preceding the merger. The Competition Council believes that failure to provide the aforementioned information greatly affected the evaluation of the impact that the merger would have on the market. For such procedural infringement the Competition Council suggests to impose the fine foreseen in Part 3 of Article 36 of the Law on Competition.
Having received the Competition Council‘s preliminary conclusions stating that the intended merger might negatively affect competition in the relevant markets, on 23 April 2013, UAB Concretus Materials refused its intention to acquire AB Akmenės cementas shares.