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Montag,
01.03.2021 08:00
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GlobeNewswire
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Estonian Competition Council has allowed Linas Agro Group to implement concentration by acquiring KG Group
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The Competition Council of Estonia has adopted a resolution allowing Linas Agro Group to implement the concentration and acquire the companies belonging to KG Group.
AB Linas Agro Group has signed share purchase agreements for acquisition of controlling stakes in AB Kauno Grūdai, AB Kaišiadorių Paukštynas, AB Vilniaus Paukštynas and related companies on 2nd October 2020.
The Competition Council of Estonia states in their decision that the transaction will not adversely affect any of the Estonian product markets, the concentration will not significantly change the competitive position and the structure of the product markets. Nor does this concentration create or strengthen a dominant position.
Last week, the concentration was approved by the Latvian Competition Authority.
The decision of the Lithuanian Competition Council regarding the implementation of the concentration is still to be made. For the transaction to go ahead, it must also be approved by the competition authorities in Russia and Poland.
About AB Linas Agro Group
AB Linas Agro Group, together with its subsidiaries makes the Group of Companies established in 1991 and operates in four countries - Lithuania, Latvia, Estonia and Ukraine.
All companies within the Group employ more than 2,100 people. The consolidated revenue of the Group during the previous financial year (2019/2020) amounted to 658 million euros.
The companies of the Group produce, handle and merchandise agricultural and food products, also provide products and services for farming. The Group is the leading exporter of Lithuanian and Latvian grain and has own network of 13 grain elevators. It is also one of the leaders in supplies of agricultural inputs (such as certified seeds, fertilizers and agricultural machinery) in Lithuania and has a seed processing plant. The Group owns seven agricultural companies in Lithuania and is a major milk producer. It is the biggest poultry producer in Latvia and has four poultry companies there: AS Putnu fabrika Kekava, CIA Lielzeltini, SIA Broileks, SIA Cerova.
Mažvydas Šileika, Finance Director of AB Linas Agro Group
Mob. +370 619 19 403
E-mail m.sileika@linasagro.lt
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