Economy

Hungary's Extreme Digital one step closer to merger with eMAG

June 6, 2019, 2:01 pm  english version Hungarian version  
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Romania’s Competition Council has authorised on Thursday the merger of Hungary’s Extreme Digital Zrt. and Dante International SA, the owner of electronics webstore eMAG.


The Competition Council’s analysis of the transaction found that the merger does not create obstacles to competition. It noted that Dante International is controlled by South Africa’s Naspers Group and Romanian businessman Iulian Stanciu.

Extreme Digital operates mainly in Hungary, but it also sells goods in other countries in Central and Eastern Europe, including the Romanian market.

The transaction, which the parties announced in March this year, will create one of the most dominant e-retailer in CEE with its headquarters in Budapest.

Extreme Digital (www.edigital.hu) will have a 48% stake in the merged company and the Hungarian subsidiary of eMAG will hold the remaining 52%.

The transaction will be closed and the merger will be completed after an approval by Hungary’s Economic Competition Authority (GVH), likely in the third quarter of 2019, the parties said in March.

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04/12/2017 1:32pm
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