The Estonian investment company „Infortar“ may acquire a 21.71% stake in the Estonian shipping company „Tallink Grupp“ and take control of it. After the transaction, „Infortar“ will own 68.47%.

The transaction has been cleared by the Lithuanian Competition Council, the authority said on Monday.

„The proposed concentration will not lead to the creation or strengthening of a dominant position or significantly impede competition in the relevant markets“, – the Council said. 

The companies related to „Infortar“ sell natural gas and electricity in Lithuania. The group owns Estonia's largest gas company „Eesti Gaas“, other energy infrastructure, biomethane and solar energy production, 4 hotels and spas in Tallinn and Riga, headquarters of the group and „Tallink“, business centres, as well as building materials, home furnishings, printing, agriculture, taxi and other services.

Subsidiaries of „Infortar“ include „Estonian Minerals Group“ a manufacturer of building minerals, „Vaba Maa“ a printing company, „Vaba Maa“ and „Printon“, the agricultural company „Halinga“, „Tallink Takso“, „Tallink Tennis Centre“, the construction companies „EG Ehitus“, „INF Ehitus“, „INF Infra“ and others.

„Infortar“ shares are listed on the Tallinn Stock Exchange.

In Lithuania, „Tallink Grupp“ has a „Burger King“ franchise and an electronics business, as well as mini-cruise, passenger and cargo services in the Baltic Sea region – between Estonia, Finland, Sweden and Latvia, owns the brands „Tallink“ and „Silja Line“, sells cosmetics, clothing, accessories, home and household appliances, beverages, and manages hotels.  

Competition Council clearance is required if the revenue of the parties to the transaction or their related undertakings in the last year exceeded EUR 20 million and if the combined revenue of at least two undertakings exceeded EUR 2 million each.