APPROVAL GRANTED FOR A MERGER IN THE TRAVEL ORGANISATION MARKET
Businessman Neşet Koçkar will be allowed to acquire a 9.99% stake in Novaturas. Combined with the shares he already holds, his total ownership will reach 33.2%, enabling him to assume sole control of the company. The Competition Council has approved the transaction.
The merger notification was received on 13 November 2025. Having assessed the circumstances of the transaction, the Competition Council has concluded that the proposed merger will not result in the creation or strengthening of a dominant position or significant restriction of competition in the relevant markets.
Baltic World, a Latvian company associated with investor N. Koçkar, offers holiday packages in Lithuania, sells airline tickets, and in certain cases offers standalone hotel bookings through its subsidiary, Anextour Lietuva.
Novaturas provides travel agency services in Lithuania, sells airline tickets, and, in exceptional cases, sells reservations at specific hotels. Companies affiliated with Novaturas also provide travel agency services.
The intended merger must be notified to the Competition Council and cleared if the combined total revenues of the undertakings involved in the concentration in Lithuania in the last year before the merger exceed EUR 20 million and the total revenues of each of at least two undertakings involved in the concentration in Lithuania in the last year before the merger exceed EUR 2 million.
