WINDLY HOLDING OÜ RECEIVES MERGER CLEARANCE
The Lithuanian competition authority Konkurencijos taryba has cleared the acquisition of 33.4 per cent of the shares of the company 9 sparnai, as well as acquisition of its joint control together with E energy invest, by the Estonian firm Windly Holding OÜ.
On 6 October 2022 Konkurencijos taryba received the merger notification. Having assessed the circumstances related to the transaction, the authority concluded that the intended merger would not create or strengthen the dominant position or significantly restrict competition in the relevant markets.
The main activity of Windly Holding OÜ will involve the management of the company 9 sparnai. Undertakings related to Windly Holding OÜ are engaged in the management (holding), consulting, resale and rental of cars, management of real estate of various purposes and other activities.
E energy invest and its related undertakings are active in the management of subsidiaries, financing and provision of advice on renewable energy issues. The companies also provide engineering services, development services of biofuel boilers, other heat energy facilities and solar energy projects. In addition, they engage in the management (holding) and consulting, rental of real estate, production and supply of heat and hot water, production of wind energy.
The envisaged activities of 9 sparnai include the production and sales of wind energy.
The Law on Competition stipulates that the intended merger must be notified to Konkurencijos taryba and clearance must be obtained if the combined aggregate income of merging parties in the business year preceding the merger exceeds EUR 20 million and the aggregate income of each of at least two merging parties in the business year preceding the merger exceeds EUR 2 million.