After talks emerged about the Russian chemical company EuroChem Group entertaining plans to invest in Lithuania's Achema Group, Lithuanian President Dalia Grybauskaitė said that any investor would have to go through scrutiny and meet strict national security criteria. Achema Group is the owner of fertilizer manufacturer Achema, one of the biggest companies in the country which is included in the list of enterprises with relevance to Lithuania's national security.
Achema
© DELFI / Kiril Čachovskij

“The sale [of Achema], if decided by shareholders, will trigger into action a recently adopted law, which says that any investor in such companies must comply with the national security criteria. The law provides for the establishment of a special commission which will have to make a respective check. Therefore such companies cannot be simply sold, even if they are privately owned,” Dalia Grybauskaitė told reporters in Vilnius on Friday.

In line with legislative amendments, which came into force last year, investments in strategic economic sectors and territories surrounding strategic objects can be screened by the government and stopped if potential investors might be posing a threat to national security.

Dmitri Strezhnev, CEO of EuroChem, which owns Lithuania’s fertilizer manufacturer Lifosa, has come on a visit to Lithuania. According to Lifosa’s CEO, Jonas Dastikas, Strezhnev, who is interested in investment environment, has come to discuss future investment in Lifosa, inter alia, with government officials.

The web portal vz.lt reported on Friday citing sources that one of the goals of Strezhnev’s visit to Vilnius was to discuss a possibility to acquire Achemos Grupė (Achema Group), one of the largest Lithuania’s concerns that owns fertilizer manufacturer Achema.

Sources told BNS that Lyda Lubienė, the biggest single shareholder of the Lithuanian company, had not met with Strezhnev and did not intend to sell her shares.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Baltic States seek a single regional assessment

Ministers of finance of Lithuania, Latvia and Estonia, the European Commission and NASDAQ appealed...

LMT presents three digital service innovations at Baltic Mobile Congress

LMT (Latvian Mobile Telephone) is the telecommunications market leader in Latvia and a digital service...

CERN is considering the possibility of establishing business incubation centre

Last week, CERN delegation paid a visit to Kaunas University of Technology (KTU) Santaka Valley. The...

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European...

The popular French fashion brand „Gémo“ enters the Baltic States: first store in Lithuania – in 2019

The popular French fashion brand „Gémo“ entered the Baltic States - the first regional store was...