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TGS Baltic Helps Polish Fund Obtain Clearance for Merger with Morele.net.

TGS Baltic Helps Polish Fund Obtain Clearance for Merger with Morele.net.

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TGS Baltic assisted Poland's MCI.PrivateVentures Fundusz Inwestycyjny Zamknięty and sub-fund MCI.TechVentures 1.0 obtain the permission of the Latvian Competition Council for its acquisition of sole control over Morele.net.Sp. z.o.o.

According to TGS Baltic, "one of the companies of the above fund is SIA Pigu Latvia that ensures retail trade of non-food products in the online store 220.lv. Morele.net Sp. z o.o. is engaged in retail trade through online stores in Poland and wholesale of non-food products in the European Union by supplying goods to business persons in Latvia. Thus, the merger participants in Latvia operate in vertically related markets – the wholesale market of electronic goods and the non-food retail market."

According to TGS Baltic, "after assessing the information provided by the companies ... the Competition Council concluded that the structure of the wholesale market of electronic goods and the non-food retail market in the territory of Latvia would not change, competition would not decrease, and no dominant position would be established or strengthened in either of the vertically related markets as the result of the merger. Therefore, the merger transaction should be permitted." Its formal authorization for the merger was issued on October 10, 2018.

The TGS Baltic team was led by Partner Andra Rubene and Senior Associate Mara Stabulniece, as well as supported by Legal Assistant Martins Galzons.

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