Advising Vitol in obtaining merger clearance for acquisition of 49% stake in Ventspils Nafta Terminal LTD

Advising Vitol (one of the world's top three crude oil traders) in obtaining merger clearance for acquisition of 49% stake (conferring joint control with the other owner) in Ventspils Nafta Terminal LTD (a major oil and oil products transhipment terminal in port of Ventspils, Latvia) and the following court case when the Competition Council’s decision to approve the acquisition was appealed by Ventbunkers AS (an oil products transhipment terminal in the port of Ventspils). The first instance court dismissed the case, but the decision has been appealed in ancillary proceedings to the Administrative Regional Court. This will be an important precedent establishing case in Latvia in the field of merger control.