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GRANTED CONCENTRATION AUTHORISATIONS

15 06 2006

The meeting of the Competition Council examined the concentration notifications filed by the undertakings and passed the appropriate decisions in respect of the issues considered.

1. Having examined the notification filed on 1 June 2006 by  AB Invalda on concentration by acquiring up to 100 percent of AB Pozityvios investicijos, and by acquiring by Alvydas Banys, Dailis Juozapas Mišeikis, Vytautas Bučas and Darius Šulnius the joint control of AB Invalda, the Competition Council resolved to authorise the proposed merger in accordance with the submitted notification. The Competition Council established that the degree of concentration in the relevant markets will not change therefore the dominant position in the market concerned will neither be created nor strengthened, the deal will not cause any significant lessening of competition in the market. As indicated in the concentrating notification the main objective of the concentration implemented by AB Invalda is to simplify the structure of the group and enhance the efficiency of the management of company‘s subsidiaries thus achieving reduction in the management costs.  

2. The Competition Council resolved to authorise the concentration deal notified by UAB City Plaza by acquiring up to 100 percent of the shareholding of the wool fabric producer AB Drobė in Kaunas. The Competition Council assessed the intended concentration as conglomerate causing no changes in the wholesale market of union cloth and the pure wool fabrics and other relevant markets, therefore no dominance will be created or strengthened or will cause any restrictions or lessening of competition in the market concerned. As indicated in the notification on concentration UAB City Plaza is intending to invest significantly investment into the textiles industry in order, to implement of the plan for the restructuring of AB Drobė and to invest into the operations of the company.

Competition Council Spokesperson