During investigation carried out after receiving the merger notification of JSC Ventspils nafta and Euromin Holdings Limited (Cyprus), the Competition Council has come to a conclusion that companies were not obligated to report on the merger because turnover of one of the merging parties in the previous financial year did not exceed 1.5 million lats in the territory of Latvia.

As previously stated, VN and its shareholder Euromin prepared and submitted the statement on the merger to the Competition Council. The submission of the merger notification is related to the possibility of election of the majority members of VN supervisory institution, which under the Competition Law is an indication for acquisition of decisive influence.
 

Ventspils nafta

Zane Bojāre
JSC „Ventspils nafta” PR Manager
E-mail: zane.bojare@vnafta.lv
Phone.: 67821691; 29706733