TGS Baltic prepared a merger notification on UAB Malinvest (UAB Malsena plius, Amber Trust II SCA group company) acquiring control of AS Rīgas Dzirnavnieks and assisted during the clearance procedure before the Latvian Competition Council (CC).
According to the CC it was one of the most significant mergers under consideration during the year 2013.
Competing offer to buy out AS Rīgas Dzirnavnieks complicated the merger. In order to outbid the competing offer the acquirer UAB Malinvest (UAB Malsena plius, Amber Trust II SCA group company) had to act without hesitation. For this reason the merger notification was submitted only one day prior to the actual implementation of the merger without awaiting of the CC’s decision approving the merger by the acquirer risking that the merger would not be approved and fines for unduly notified or illegal merger imposed.
On 29 July 2013 the CC permitted the merger with binding commitments.
AS Rīgas Dzirnavnieks is one of the largest grain processing companies in Latvia. The company produces and sells grain products – all types of wheat and rye flour, flour mixes, flakes and other grain products for bakeries and confectioneries, as well as products in small packages for individual consumers.
UAB Malsena plius is one of the largest and most advanced grain processing industrial groups in Lithuania. Having mastered the modern milling technology, the company produces a wide range of products: different types of wheat and rye flour, flour mixes, wheat germ and bran.