All deals & cases

COBALT assists Viking Malt Oy in a merger clearance procedure

2016-04-05

COBALT has been assisting the a leading Nordic malting company Viking Malt Oy in a merger clearance procedure and representing Viking Malt before the Lithuanian Competition Council. At the moment COBALT is acting for the client in court proceedings where Viking Malt Oy has appealed the blocking decision with the court. To the best of our knowledge, until now a prohibition decision has never been appealed by merging parties in Lithuania.

In spring 2015, Viking Malt Oy notified the Competition Council of the acquisition of shares in UAB Maltosa. The Lithuanian Competition Council opened an in-depth investigation into the proposed concentration and prohibited the acquisition since it deemed that the acquisition would lead to a substantial restriction of competition on the Lithuanian market for pilsner malt.

Viking Malt Oy produces and supplies malts for breweries and distilleries. It sells its products in Scandinavia and the Baltic Sea region  and exports them to South America, Africa, Japan, and the Russian Federation. The company was founded in 1883 and is based in Lahti, Finland with malt houses in Lahti, Finland; Panevėžys, Lithuania; and Halmstad, Sweden. Viking Malt Oy operates as a subsidiary of Polttimo Oy.

The project team at COBALT includes Elijus Burgis, Partner, Ieva Sodeikaitė, Managing Associate, and Marius Inta, Managing Associate.