With the 09.08.2021 stock exchange announcement
(https://view.news.eu.nasdaq.com/view?id=b27f14eea0dadc5388c582f5ac7a3752d&lang=
en), AS Merko Ehitus released information concerning the decision of the Latvian
Competition Council regarding group's subsidiary SIA Merks.
SIA Merks considers the conclusions of the Latvian Competition Council
concerning SIA Merks' business practices to be unfounded and unsubstantiated,
both factually and legally.
Today, on 13.09.2021 SIA Merks and AS Merko Ehitus appealed the decision of
Latvian Competition Council to the Latvian administrative court. The fine
imposed by the Competition Council will not become due and all other possible
consequences under Latvian law will not take effect until the final court ruling
enters into force.
Merko Ehitus group is committed to promoting and implementing ethical business
standards and behaviour, as well as compliance with all applicable laws and
regulations governing business practices. Any possible infringement of fair
competition is in violation of the operating principles and values of the group.
Urmas Somelar
Head of Group Finance Unit
AS Merko Ehitus
+372 650 1250
urmas.somelar@merko.ee (mailto:urmas.somelar@merko.ee)
AS Merko Ehitus (group.merko.ee (https://group.merko.ee/en/)) group consists of
AS Merko Ehitus Eesti in Estonia, SIA Merks in Latvia, UAB Merko Statyba in
Lithuania and Peritus Entreprenør AS in Norway. Besides providing construction
services as a main contractor, the group's other major area of activity is
apartment development. As at the end of 2020, the group employed 666 people, and
the group's revenue for 2020 was EUR 316 million.
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