KT CLEARS ACQUISITION OF JOINT CONTROL OVER BALTIC BICYCLE TRADE

On 16 May, the Competition Council (Konkurencijos taryba, KT) cleared the notified transaction, under which Litcapital I acquired up to 56 per cent and ASGAARD A/S acquired up to 16.6 per cent of UAB Baltic Bicycle Trade shares, and both, together with other shareholders, acquired joint control over UAB Baltic Bicycle Trade.

Having conducted a thorough evaluation of the circumstances related to the merger, the KT has acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.