CONCLUSIONS OF THE 79TH SESSION OF THE COUNCIL OF COMPETITION

On December 23rd 2008 in Sarajevo, the Council of Competition held its 79th session. The following had been achieved:

- The concentration to appear in the market of wholesale of pharmaceutical products in Bosnia and Herzegovina through acquiring control by purchasing 100% share in ownership structure by undertaking Phoenix Pib Seteiligungs GmbH from Vienna, Austria in undertaking Pharmanova Bel d.o.o. (limited liability company) from Bijeljina, Bosnia and Herzegovina had been declared as permitted. While issuing the Decision concerned, the Council of Competition of BiH concluded that implementation of the concentration concerned should not distort existing market competition considering the fact that Phoenix Pib is not present in the BiH market.

- The concentration to appear in the market of electric-installation materials resulting from a joint venture on a long-term basis of the undertaking Scame Parre S.p.A. from Bergamo, the Republic of Italy and undertaking Mandeks d.o.o. from Siroki Brijeg, Bosnia and Herzegovina in new undertaking Scame See d.o.o. Široki Brijeg, Bosnia and Herzegovina had been declared as permitted.

- The concentration in the market of providing insurance services in Bosnia and Herzegovina to result from a joint venture on a long-term basis of two independent economic entities Hemslade Trading Limited from Nicosia, Cyprus, and Delta Generali osiguranje a.d.o., from Belgrade, Serbia.

- At the same session of the Council of Competition, there had been adopted the Opinion upon request by the economic entity Ornament d.o.o.from Modrica, Bosnia and Herzegovina as to existence of obligatory Application on Intended Concentration within the meaning of relevant provisions of the Law on Competition of BiH.

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