KT ALLOWS UAB FEGDA TO ACQUIRE UP TO 100 PER CENT OF BRIDGE BUILDING COMPANY UAB TILSTA SHARES

On 18 July, the Competition Council (Konkurencijos taryba, KT) allowed UAB Fegda to acquire up to 100 per cent of bridge building company UAB Tilsta shares.

The main activities of UAB Fegda include building of roads, streets and airfield structures as well as laying of engineering networks in Lithuania.

The main activities of UAB Tilsta include design, building, repair and exploitation of bridges, viaducts, crossings, tunnels, piers, water culverts and hydro-technical structures.

Parties to the merger indicated that when implementing the merger they assume non-competition obligations.

Having evaluated all the circumstances related to the merger, the KT acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.

Notes

(1) The KT’s permission to implement the merger includes undertakings’ assumed additional obligations on the restriction of activity that are necessary and directly related to the implementation of the merger and are in compliance with the principles established by the European Commission. However, when analyzing the question of whether permit the implementation of the merger, the KT does not evaluate the additional activity restrictions provided in the merger notifications. Pursuant to the principles of the European Commission, the undertakings participating in the merger have to self-assess whether activity restrictions are necessary and directly related to the implementation of a specific merger.

(2) Clearance of the merger that includes additional restrictions does not eliminate the right of the KT to start an investigation on the restrictions determined by the parties or other actions that are not necessary or directly related to the implementation of the merger in the future.

Communication Division