UAB SOSTENA RECEIVED MERGER CLEARANCE

The Competition Council cleared the acquisition of 5,6 per cent (together with the currently owned shares –  25,6 per cent) of  UAB Balux shares and joint control by UAB SOSTENA together with UAB Lona.

On August 21 the Council received merger notification. Having evaluated all 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.

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.