Lithuania's Competition Council has cleared the acquisition of Silberauto, an importer and dealer of Mercedes-Benz cars in Lithuania and Estonia, by Finland's Veho, the council said on Thursday.
"Mercedes-Benz Citan"
"Mercedes-Benz Citan"
© Gamintojo archyvas

Earlier this month, the deal was approved by Estonia's Competition Authority. The transaction still needs approval from Mercedes-Benz's owner Daimler.

Upon completion of the transaction, Veho would own 100 percent of Silberauto and 100 percent of Silberauto Estonia and, via the latter, will indirectly own 100 percent of Silwi Autoehituse Aktsiaselts.

Lithuania's Silberauto sells Mercedes-Benz, Unimog and Mitsubishi Center Fuso vehicles. It posted 269 million euros in a record turnover last year, and its net profit stood at 1.881 million euros.

Silberauto Estonia is the sole owner of Lithuania's Silberauto.

It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Skvernelis: no plans to put economy on hold if 2nd coronavirus wave comes (2)

The whole economy or its individual sectors in Lithuania will not be put on hold if a second...

Lithuania plans to establish anti-money laundering competence center

Lithuania plans to establish an anti-money laundering competence center as the Nordic and Baltic...

Minister: direct EU payments to farmers should be capped at EUR 100,000

Direct EU payments to Lithuanian farmer s in 2021-2027 should be capped at 100,000 euros,...

To start or not to start fintech company during recession?

Microsoft, IBM, HP, Disney, FedEx, 3M. What do these companies have in common? They started their...

Lithuania asks Slovenia to hand over detained businessman Kucinskas

Lithuania's Prosecutor General's Office has asked Slovenia to hand over Vidmantas Kucinskas , the...

Top news

Ex-president Grybauskaite urges Lukashenko to leave

Lithuania's former president Dalia Grybauskaite on Thursday urged Alexander Lukashenko to leave...

Foreign ministry: Lithuania bans entry to Hezbollah affiliates

The Lithuanian government has banned entry to people linked to the Hezbollah paramilitary movement...

Lithuanian journalists voice support for persecuted colleagues in Belarus and offer help

Editors of Lithuanian media outlets sent on Thursday a message of solidarity to their persecuted...

21 new coronavirus cases

On Wednesday Lithuania confirmed 21 new COVID-19 cases in the country. In total, 2330 cases have been...

Estonian president to visit Lithuania on Friday

On Friday President Kersti Kaljulaid will travel to Vilnius on a one-day working visit in order to...

|Maža didelių žinių kaina