Alytus, Lithuania, 2012-01-09 10:21 CET (GLOBE NEWSWIRE) -- The company group “ALITA”, AB (hereinafter, the “Company”) received the ruling of the Supreme Administrative Court of Lithuania dated 30 December 2011 that was adopted in the administrative case initiated by the complaint of Plass Investments Limited regarding the validity of the resolution of the Competition Council dated 28 September 2011 allowing FR&R Invest IGA S.A. to acquire up to 100 % of the shares in the Company and the validity of the decision of the Competition Council dated 29 September 2011 to consider the information submitted to the Competition Council by Plass Investments Limited concerning the acquisition of the shares in the Company as not giving grounds to question the validity of Competition Council’s resolution. In the complaint Plass Investments Limited has among others requested to apply the interim measure – to suspend the validity of the contested resolution and of the contested decision of the Competition Council. Vilnius Regional Administrative Court by the ruling dated 10 October 2011 has satisfied the request of Plass Investments Limited and applied the requested interim measure (the Company has informed about this fact on 12 October 2011 by announcement on material event).
By unappealable ruling dated 30 December 2011 the Supreme Administrative Court of Lithuania has cancelled part of the ruling of Vilnius Regional Administrative Court dated 10 October 2011 regarding application of the interim measure suspending the validity of the resolution of the Competition Council dated 28 September 2011 allowing FR&R Invest IGA S.A. to acquire up to 100 % shares in the Company and the validity of the decision of the Competition Council dated 29 September 2011 until the final judgement in the case comes into effect. The Supreme Administrative Court of Lithuania by the ruling dated 30 December 2011 has rejected the request of Plass Investments Limited regarding application of interim measure as unfounded.
Additional information is provided by the General Director Paulius Kibiša, phone number + 370 315 57243.