THE NEWLY ESTABLISHED COMPANY WILL BE ALLOWED TO ACQUIRE UAB SONEX HOLDING

The Competition Council examined the notification submitted by Askembla Growth Fund KB and Arūnas Bartusevičius on concentration by acquiring, through a newly established company, 100% of shares of UAB Sonex Holding. The decision was passed to authorise the intended concentration in accordance with the submitted notification.

The Competition Council assessed the intended concentration as vertical not affecting the degree of concentration, which therefore will not result in a creation or strengthening of dominant position or a significant lessening of competition in the relevant markets.

The activity of UAB Sonex Holding is related to computer equipment. The notification on concentration indicates that the investment agreement of the company with the European Bank for Reconstruction and Development is nearing expiry therefore the company found another investor - the Sweden-based Askembla Growth Fund KB, basically pursuing investment activity.