The European Commission has approved, on Friday, the acquisition of sole control over Dante International S.A., the operator of eMAG, by the South African group Naspers Limited.
The transaction was analyzed based on the EU Regulation on economic concentrations, and Brussels concluded that the operation does not raise competition issues.
The agreement concerns the retail sector, especially the online commerce market, where eMAG is one of the largest players in Central and Eastern Europe.
European Commission: the transaction does not affect competition
According to the European Executive, the acquisition will not have a negative impact on the market, as the companies involved do not operate in the same markets or in vertically related markets.
"The Commission has concluded that the notified transaction does not raise competition issues, considering that the companies are not active in the same markets or in vertically related markets and have a limited impact on market structure," the European Commission stated.
The analysis was conducted through the simplified procedure for examining economic concentrations, used in cases where European authorities consider that there are no significant competition risks.
eMAG, one of the largest online stores in the region
Dante International S.A., the company operating eMAG, was founded in 2001 and started as an online store specializing in IT and electronics products. Over time, the platform expanded to numerous product categories and developed the Marketplace model, through which partner merchants sell their products to customers.
Currently, eMAG is active in Romania, Hungary, and Bulgaria, and has evolved from an online retailer to a service ecosystem that includes a marketplace, delivery through easybox, and digital services for customers and merchants.
Naspers, a global investor in technology and online commerce
Naspers is one of the largest investment groups in South Africa, with global activities in the technology, internet, and e-commerce sectors.
The South African group has been a shareholder in eMAG for several years, and the transaction approved by the European Commission allows it to take sole control over the Romanian company.