Estonia's logistics company asks for permission to acquire Terminal LT

Estonia's logistics company Via 3L has asked permission to acquire 100 percent in Lithuania's storage and logistics company Terminal LT owned by ME Investicija which also owns the Girteka transport group.

Lithuania's Competition Council confirmed to have received such a request on Monday.

Established in 2004, the Lithuanian company is being acquired by Via 3L Group providing the same services in Latvia and Estonia.

If approved by the Lithuanian competition watchdog, the transaction is set to be completed by January, 2020.

Edvardas Liachovicius, CEO and shareholder at ME Investicija, said in September the business was being sold to concentrate on the group's main activity and focus on the international transportation business.

ME Investicija posted 64.31 million euros in consolidated net profit last year, and its revenue stood at 903.2 million euros. Mindaugas Raila owns 90 percent of the company.