The Latvian Competition Council reviews the concept of de facto control (Euromin Holdings / Ventspils nafta)

Introduction On 20 August 2010 Euromin Holding (Cyprus) Limited (Euromin Holding) submitted a merger notification to the Latvian Competition Council regarding Euromin Holding obtaining decisive influence over AS “Ventspils Nafta” (Ventspils Nafta). The Latvian Competition Council decided to initiate additional review of the merger. However, after obtaining further information from the undertakings involved on 13 January 2011 the authority decided to terminate the investigation of the case. The Council considered that the notified merger was not notifiable because the turnover of Euromin Holding in Latvia did not reach the minimum turnover of LVL 1 500 000 (EUR 2 134 000) for an undertaking involved in the concentration that would trigger the notification requirement. Background

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  • Klavins Ellex (Latvia)

Quotation

Liga Merwin, The Latvian Competition Council reviews the concept of de facto control (Euromin Holdings / Ventspils nafta), 13 January 2011, e-Competitions Bulletin Energy & Mergers, Art. N° 38173

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