Friday , September 30 2022

Lithuanian Competition Council: ‘MM Group’ will not be able to acquire ‘Forum Cinemas’ business in Lithuania


Estonian investment company MM Grupp will not be able to acquire the Forum Cinemas business in Lithuania, the Lithuanian Competition Council has decided.

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The Board states that it has temporarily suspended the investigation of the application submitted by MM Grupp because it did not provide all the necessary information.

“Companies will not be able to complete the transaction because the merger valuation process has been suspended,” the board explained.

“Companies intending to merge must provide accurate and complete information in a timely manner so that we can assess the impact of the merger on the market, competition and consumers and decide whether such an operation is possible,” he said. Plaque.

This decision cannot be challenged. This also means that in the history of the board, the merger evaluation process has been halved due to the merger parties’ failure to provide the necessary information in a timely manner.

Forum Cinemas has one cinema in Latvia, three in Estonia and five in Lithuania. In the fall of 2019, the Estonian Forum Cinemas completed the addition of film operators of the same name in Latvia and Lithuania, and since then has been operating as a company headquartered in the Baltic States in Tallinn.

Forum Cinemas is owned by Finn Finkin of the British Odeon Cinemas Group, followed by China Wanda Group (38%) and US investment company Silver’s US AMC Entertainment Holdings. Lake Partners ”(28%).

MM Grupp holding company, managed by Estonian businessman Margus Linnamäe, has a large portfolio of companies in the Baltic States. LETA news agency is part of an international media group with a shareholder MM Group.

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