Merger clearance for the acquisition of Manifoldas

Our team has advised an investor, the leading Lithuanian oil producer Lotos Geonafta AB, in a merger notification related to the purchase of a controlling stake in the Lithuanian oil and gas producing company Manifoldas AB.

Manifoldas has recently discovered a new oil basin in the region of Klaipėda. Last year it was working on 12 oil mining points.

The Lithuanian Competition Council granted permission to implement the concentration on 5 November 2012.