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CONCENTRATION BY ESTABLISHING UAB SANITEX-OGMIOS AUTHORISED

21 12 2006

Having examined the notification on intended concentration the Competition Council resolved to authorise the concentration deal to be effected by the joint Lithuanian-American venture UAB Sanitex and UAB Gamarenta  the latter (being part of the Ogmios groups of companies) by establishing UAB Sanitex-Ogmios in accordance with the submitted notification. The competition authority established that the intended concentration will not result in the creation or strengthening of a dominant position or any significant weakening of competition in the relevant market of the construction, management and development of commercial realty.

As indicated in the concentration notification UAB Sanitex-Ogmios is being established for the purpose of implementing a single project – the construction of the commercial-purpose building in Klaipėda region. Within the framework of the said project the newly established company will use and manage the goods and realty acquired by the companies participating in the concentration; the arrangement has also a purpose to distinguish the project concerned from other projects jointly or individually implemented by the joint Lithuanian-American venture UAB Sanitex and AB Ogmios centras.

Competition Council Spokesperson