VILNIUS — NDX Energija reluctantly agreed Friday to accept a Lithuanian government buyout of its shares in the defunct LEO LT joint venture for 680 million litai (€197 million).

With NDX Energija, a VP Grupė subsidiary out of the way, the government will proceed dissolving the company. NDX Energija opposed breaking up the company, but had only 38.3 percent of the shares while the government owned 61.7 percent.

The vote culminates the slow death of the company designated by the government to replace the Ignalina Nuclear Power Plant, Lithuania’s principal electricity source. The founding of the LEO LT joint venture was declared unconstitutional in March. Set up by the previous Social Democratic government, LEO LT came under heavy criticism from the ruling conservative coalition and President Dalia Grybauskaitė who characterized the company as oligarchical.

The ruling coalition has instead pursued the liberalization of Lithuania’s energy market, which Grybauskaitė also supports. The government is currently looking for investors to build a replacement for Ignalina, due to be shut down at the end of the year as required by the European Union.