UAB NORDIC MINDS WILL ACQUIRE CONTROL OF UAB BALTIJOS POLISTIRENAS

The Competition Council cleared the acquisition of 40 per cent of Baltijos polistirenas shares (together with the currently owned shares – 80 per cent) and sole control by Nordic Minds.

On November 24 the Council received merger notification. Having evaluated the circumstances related to the transaction, the Council acknowledged that the intended merger will not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.

Nordic Minds engages in investing activities, sale of securities, business management and consulting.

Baltijos polistirenas is active within the production and trade of various building materials.  

The intended merger must be notified to the Competition Council and clearance must be obtained if the combined aggregate income of merging parties in the business year preceding the merger exceeds EUR 14.5 million and the aggregate income of each of at least two merging parties in the business year preceding the merger exceeds EUR 1.45 million.