ILS HOLDING RECEIVED MERGER CLEARANCE

The Competition Council cleared the acquisition of 100 per cent of UAB Ilsanta shares by UAB ILS holding.

On October 26 the Council received merger notification. Having evaluated the circumstances related to the transaction, the Council acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.

ILS holding is engaged in investment management, while Ilsanta supplies medical devices and equipment in Latvia, Lithuania and Estonia.

The intended merger must be notified to the Competition Council and clearance must be obtained if the combined aggregate income of merging parties in the business year preceding the merger exceeds EUR 14.5 million and the aggregate income of each of at least two merging parties in the business year preceding the merger exceeds EUR 1.45 million.