FINNISH INVESTORS WILL CONTROL TWO MORE LITHUANIAN COMPANIES

The Competition Council examined the notifications on concentration submitted by undertakings and passed appropriate decisions.

1. The Competition Council decided to authorise UAB Baltvestica to implement concentration by acquiring a 100% shareholding of UAB Vilniaus duona plius in accordance with the submitted notification having established that the intended concentration will not affect the degree of concentration in the relevant markets for bread and bakeries. The concentration will neither create or strengthen the dominant position or cause a significant lessening of competition in the relevant markets.

The sole shareholder of UAB Baltvestica, engaged in holding activities, is the Finnish company Vaasan & Vaasan Oy, engaged in the production of and trade in bakery products. As claimed by the participants of the concentration, by acquiring the outstanding shares and the sole control over the company, UAB Baltvestica, the holder of 60% interest in UAB Vilniaus duona plius, seeks to simplify the management of the company, engaged in the production of and trade in bread and bakeries and develop its operations.

2. Fortum Power Heat Oyj - the Finnish company engaged in the production, distribution and supply of heat and power, as well as provision of other energy-related services was authorised to implement concentration by acquiring 90% of shares of UAB Suomijos energija in accordance with the submitted notification. Also, as a constituent part of the intended concentration, authorisation was granted to UAB Suomijos energija to perform concentration by acquiring a 100% of UAB Ekošiluma. The area of activity of UAB Ekošiluma is the production, supply and marketing of wood befoul. The company purchases timber, sawmill scrap and wood waste from forest enterprises and private owners, and having chopped the waste, delivers to boiler-houses by special chip trucks.

The Competition Council resolved that the implemented concentration will not create or strengthen the dominant position in the market or result in a significant lessening of competition in relevant markets. The justification for the concentration as claimed by participants of the concentration is the intentions of Fortum Power Heat Oyj, upon the acquisition of the control of the companies, to establish the basis for the development of the operations of the company and start submitting proposals to industrial enterprises aimed at assisting them to solve the problems related to the supply of energy recourses. This Finnish company is an energy company operating in the North European and Baltic States whose main products are power, heat and steam.