The regulator concluded on Monday that the market share, which the potential buyer – the Betoneta group – would get hold of after the takeover of Akmenės Cementas’ control, would be too large.
Shortly thereafter, Concretus Materials, which sought to acquire 51 percent of Akmenės Cementas’ shares and which, according to the panel, is part of Betoneta group, said that it had withdrawn its application for regulatory clearance and cancelled the deal on the acquisition of the cement manufacturer’s shares.
The anti-trust watchdog published its decision on Tuesday.
The Mexican cement giant Cemex owns a 33.95-percent stake in Akmenės Cementas now. Other shareholders include Simonas Vytis Anužis with 13.67 percent, Olius Danyla with 13.55 percent, Arnoldas Mituzas with 12.76 percent, and Edmundas Montvila with 9.8 percent.
