The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Dante International S.A. (‘eMAG’) of Romania by Naspers Limited of South Africa. The transaction relates primarily to the retail sector.

The Commission concluded that the notified transaction would not raise competition concerns, given that the companies are not active in the same or vertically related markets and the limited impact on the market structure. The notified transaction was examined under the simplified merger review procedure.

“The transaction mainly concerns the retail sector. The Commission concluded that the notified operation does not raise competition concerns, as the companies are not active on the same markets or on markets in a vertical relationship, and the impact on the market structure is limited. The transaction was analysed under the simplified merger control procedure,” the EC release states.

Businessman Iulian Stanciu announced on June 11 that he is selling his stake in the eMAG Group to Prosus, 17 years after taking over the company and 14 years after signing the partnership with Naspers (Prosus). With this transaction, Iulian Stanciu marks the transition from entrepreneur to investor status. eMAG will continue its development and extensive investment plans, with 1.2 billion lei budgeted for this fiscal year alone for technology, logistics and financial services, with the support of Prosus and an experienced management team, the company’s representatives claimed. They also noted the growth potential of ecommerce at the regional level, which remains significant, with growth rates of up to three times in the coming years, compared to the current penetration rate of 11-12% of total retail.

photo source: Logistics – eMAG Marketplace