THE CONSORTIUM AUTHORIZED TO ACQUIRE AB „PAGIRIŲ ŠILTNAMIAI“

Competition Council have examined the submitted notification on concentration and resolved to authorize UAB „Hronas“, UAB „Labradoras ir Ko“ and UAB „Baltaura“ to implement concentration by acquiring a 100 % shareholding of AB „Pagirių šiltnamiai“ and acquire a joint control according to the submitted notification. The intended concentration was assessed as conglomerate, since none of the consortium members, participants of the transaction, were either directly or via controlled companies thereby affecting the vegetable growing and trade markets. The degree of concentration in these markets, as a result of the transaction, will not change, no dominant position shall be created or strengthened, so this will neither cause any significant lessening of competition in the market concerned.

UAB „Hronas“, UAB „Labradoras ir Ko“ and UAB „Baltaura“ have concluded the consortium agreement. The State Property Fund awarded the consortium as the winner of the public tender for the privatization of AB „Pagirių šiltnamiai“, wholly-owned by the State.

The consortium in its notification on concentration indicated, that following the privatization the consortium intended to continue the economic activities of AB „Pagirių šiltnamiai“ - vegetable growing in mineral wool, alongside with the expansion of the range of production processing, - canning, drying and freezing. The management rationalization and optimization of production processes are expected to enable the company to increase its production volumes. The new owners also envisage several projects for the readjustment of the infrastructure of the site of the company. The Sate for a term of 99 years had leased to AB „Pagirių šiltnamiai“ a plot exceeding 89 ha, 20 ha of which are occupied by green houses.