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2015.09.08 13:45

Lithuanian govt greenlights deal with E.ON – PM

DELFI EN | The Lithuania Tribune2015.09.08 13:45

  The Lithuanian Cabinet on Wednesday gave the green light to a deal with Germany’s energy group E.ON Ruhrgas International. The deal is likely to be closed next week after being cleared by the country’s competition watchdog.

The Lithuanian Cabinet on Wednesday gave the green light to a deal with Germany’s energy group E.ON Ruhrgas International. The deal is likely to be closed next week after being cleared by the country’s competition watchdog.

“Discussions with E.ON are ongoing. We expect an agreement to be signed in the near future. We are waiting for a response from the Competition Commission and some other institutions,” Prime Minister Algirdas Butkevičius told reporters.

“As soon as the agreement is signed, we will present everything in detail. We have the final version now,” he said.

The Cabinet discussed the draft agreements behind the closed doors.

After purchasing 38.91 per cent stakes in Lietuvos Dujos (Lithuanian Gas) and Amber Grid, the state will control 56.61 per cent of shares in each company through state-controlled enterprises.

The National Control Commission for Prices and Energy has already cleared the deal on the shares in Amber Grid and is to give the go-ahead regarding Lietuvos Dujos next Monday.

It is expected that the Finance Ministry-controlled Lietuvos Energija will buy E. ON’s stake in Lietuvos Dujos and the Energy Ministry-controlled Epso-G will buy the Germans’ stake in Amber Grid on May 20 after obtaining approvals from the Competition Council.

Lietuvos Energija is also planning to purchase E.ON’s 11.8 per cent stake in the electricity distribution company Lesto.

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