Lithuania clears acquisition of automotive sales companiesChristian Fernsby ▼ | January 16, 2020
Konkurencijos taryba (The Competition Council of the Republic of Lithuania) cleared the acquisition of 100 per cent and sole control of the Estonian company Veho Eesti AS by the Finnish-based firm Auto-Bon Oy.
Business in Lithuania Veho Eesti AS
Topics: Lithuania acquisition automotive
Having evaluated the circumstances related to the transaction, the authority acknowledged that the intended merger would not create or strengthen the dominant position, or significantly restrict competition in the relevant markets.
Through the affiliates registered in Estonia and Finland Auto-Bon Oy is operating in Lithuania as a wholesaler of Hyundai, Suzuki, Ssangyong, Peugeot, Isuzu commercial and passenger cars and spare parts.
Veho Eesti AS is a wholesaler of Citroën brand commercial and passenger cars and spare parts in Lithuania.
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. ■