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PERMISSION FOR CONCENTRATION AND JOINT CONTROL

20 01 2005

The Competition Council of the Republic of Lithuania has at its sitting examined the submitted notification on proposed concentration and acquisition of joint control and after examination of notifications has decided:

1. To authorize A. Pažemeckas , R. Jarulaitis, R. Jarulaitienė, D. Genienė, I. Baltrušaitienė, Z. Baltrušaitis, A. Kiguolienė, and G. Norkevičienė implementing concentration by acquiring up to 100 percent of shares of AB „Žemaitijos pieno investicija“ and acquiring the joint control in accordance with the submitted notification. It has been established that in the case concerned the degree of concentration in the relevant market will not change therefore the merger will not result in a creation or strengthening of the dominant position or restriction of competition in the markets concerned.

The notification on concentration indicated that AB „Žemaitijos pieno investicija“ is engaged only in the provision of services to AB „Žemaitijos pienas“ and does not participate in marketing of dairy products. The notification also indicated that the above natural persons hold over 40 percent of shares and votes of AB „Žemaitijos pieno investicija“ and therefore are submitting the mandatory non-competing tender offer to buy up the remaining shares of the company. The company is not planning to change its activity or initiate restructuring.

2. The Competition Council has decided to permit UAB „Baltic Property Trust Secura“ and UAB „Hanner“ implement concentration by acquiring the joint control of UAB „BPTS Europa“ (EUROPA shopping centre) in accordance with the submitted notification. It has been established that in the case of the notified merger the degree of concentration in the relevant market changes very insignificantly and therefore will not result in creation or strengthening of a dominant position. The merger will neither substantially restrict competition in the Vilnius market for the lease of commercial premises, - trading space and offices.

Prior to the merger in question the EUROPA shopping centre was sole controlled by UAB „Hanner“, however, following the property and shares transfer transactions UAB „Baltic Property Trust Secura“ and UAB „Hanner“ intends to implement joint control of UAB „BPTS Europa“ and, accordingly the EUROPA shopping centre upon obtaining the authorization of the Competition Council.

Competition Council Spokesperson