LAWIN Riga successfully represented Euromin Holdings (Vitol Group) in a Latvian court’s upholding of a merger clearance decision by the Competition Council

The LAWIN Riga office successfully represented Euromin Holdings (a Vitol Group company) in a case concerning the Latvian Competition Council’s decision to permit the acquisition by Euromin Holdings of a controlling stake in SIA Ventspils Nafta Terminals (VNT), the operator of a major oil and oil products transhipment terminal at the Latvian port of Ventspils.

In February 2007, the Latvian Competition Council gave clearance to the acquisition by Euromin Holdings, a global oil and oil products trader, of a 49% shareholding in VNT, from AS Ventspils Nafta. This decision was appealed to an Administrative District Court by AS Ventbunkers, another transhipment terminal operator at the port of Ventspils.  In 2010, the court decided to terminate the appeal based on a lack of standing (locus standi) by AS Ventbunkers. Later, this decision was upheld by the Administrative Regional Court; finally, on 8 February 2011, the Senate of the Supreme Court upheld the decision of the Administrative Regional Court and dismissed the ancillary complaint of AS Ventbunkers.

Euromin Holdings was represented by LAWIN Associate Martins Gailis and Partner Ilga Gudrenika-Krebs.