FURTHER DEVELOPMENT OF THE MAGAZINE PUBLICATION BY NEW SHAREHOLDERS

The Competition Council resolved to authorise UAB Eika and UAB Ranga Group to implement concentration by acquiring in equal shares, the 100 percent holding of UAB Statyba ir architektūra, publishers of a construction magazine, thus acquiring a joint control in accordance with the submitted notification.

As indicated in the notification on the concentration UAB Eika and UAB Ranga Group seek to acquire the holding of UAB Statyba ir architektūra in equal shares with a view to further continuing the publication of the magazine Statyba ir architektūra known for its long-lived traditions. Considering the declining popularity of the magazine among construction, architecture and real estate specialists, managers of UAB Eika and UAB Ranga Group decided to take over the management of UAB Statyba ir architektūra from the natural persons shareholders of the publication entity and to establish the new publication group expected to ensure the competitiveness of the magazine in the market of publications of similar character.