THE COMPETITION COUNCIL CLEARS TRANSACTION FOR ESTONIAN COMPANIES

Aktsiaselts Infortar will be able to acquire 21.71% of the shares in Aktsiaselts Tallink Grupp, together with the existing shares for a total of 68.47%, and take over sole control of it. The transaction has been cleared by the Competition Council.

The notification of intended concentration was received on 7 August 2024. Having assessed the circumstances of the transaction, the Competition Council has concluded that the proposed concentration will not lead to the creation or strengthening of a dominant position or to a significant impediment to competition in the relevant markets.

Aktsiaselts Infortar is an Estonian-registered holding company whose affiliates sell natural gas and electricity, manage energy infrastructure, produce biomethane and solar energy, manage real estate (hotels, offices, multifunctional business premises, etc.), sell construction materials, dishes and kitchenware, and provide printing, agricultural, taxi and other services. In Lithuania, Aktsiaselts Infortar's affiliates sell natural gas and electricity.

The ferry operator Aktsiaselts Tallink Grupp operates mini-cruise, passenger and wheeled cargo services in the North Baltic Sea region, on routes between Estonia, Finland, Sweden and Latvia, using the Tallink and Silja Line brands. Related companies operate hotels and Burger King franchise in the Baltics, sell cosmetics, clothing, accessories, home and household appliances, beverages, etc. Aktsiaselts Tallink Grupp's affiliates in Lithuania operate Burger King franchise and e-commerce businesses.

The intended concentration must be notified to the Competition Council and cleared if the combined total revenues of the undertakings involved in the concentration in the last year before the merger exceed EUR 20 million and the combined total revenues of each of at least two undertakings involved in the concentration in the last year before the merger exceed EUR 2 million.