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Varul Advises Pigu on Final Share Acquisition of DLB e-shop

pigu.lt

Estonia
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Varul has advised Pigu, the largest e-commerce company in the Baltics, on the acquisition of remaining shares of DLB e-shop (which operates in Estonia and Finland).

The acquisition of a majority of shares in DLB Trading was completed in early 2013, and the remaining shares were acquired in March, 2014. According to Dainius Liulys, the executive director of the Pigu Group, the Group decided to expand to Estonia and Finland because its sales rose by 76% in Lithuania and Latvia last year, reaching more than EUR 25 million. “We started merger negotiations with existing e-stores and selected DLB, because we see it as holding the potential for rapid growth,” Liulys said. “We will seek to improve DLB’s market position in Finland and Estonia, using our experience.” 

The Pigu Group operates an e-store in Lithuania at www.pigu.lt and in Latvia at www.220.lv. DLB Trading operates an e-store in Estonia at www.dlb.ee and in Finland at www.dlb.fi.

 

 

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