SIA Lenoka, who operates one of the largest retail chains in Latvia “Mego” received the merger clearance decision of the Competition Council allowing the acquisition of lease rights of the premises at Driksas iela 4, Jelgava, previously leased by SIA MAXIMA Latvija, from SIA MARNO J.
The transaction fell under merger clearance obligation, as SIA Lenoka acquired assets – lease rights to the premises in the shopping centre previously leased by its competitor. The Latvian Competition Council pays particular attention to the operations of large retailers in the market and has prohibited several acquisitions of lease rights in retail premises in recent years.
TGS Baltic assisted SIA Lenoka with obtaining the Competition Council merger permit.
Andra Rubene and Māra Stabulniece-Veldruma, TGS Baltic Co-Heads of the Competition Practice, provided legal support.
For more detailed information in Latvian, please refer to: https://lemumi.kp.gov.lv/files/documents/20231009_l%C4%93mums_Lenoka_Jelgava.pdf
