Romanian online retailer CEL to challenge market leader eMag's takeover of PC Garage

By bne IntelliNews April 21, 2016

Romania’s second largest online retailer CEL plans to challenge the takeover of PC Garage by market leader eMag, CEL’s owner Tiberiu Pop, told Ziarul Financiar daily on April 21.

eMag announced on April 15 it had taken over local IT&C online retailer PC Garage. Sales of IT&C products have increased in the past year in Romania, backed by the population’s rising disposable income.

Pop said he objected to the deal, and planned to challenge it through Romania’s antitrust body the Consiliul Concurentei.

CEL reported €40mn revenues in 2015, slightly more than the €37mn revenues reported by PC Garage. eMag, which operates a marketplace in addition to its own sales - meaning it distributes products of other online or offline stores - reported €353mn revenues.

The acquisition of PC Garage is in line with eMag’s recently announced plans to increase sales by more than 40% this year to over €500mn.

Pop mentioned he was in talks for taking over PC Garage in the past, but he lacked financing to pay the price asked by the owner Marius Ghenea, which was reportedly around €8mn.

 

Related Articles

Romanian software producer Bitdefender takes over French peer Profil Technology

Romanian security technology company Bitdefender has acquired its French peer Profil Technology as part of its expansion strategy on the corporate segment.  The terms of the deal were not ... more

Czech CPI buys huge Central European retail portfolio

Czech real estate investor CPI Group has bought a large portfolio of Central European retail assets, local media reported on January 17. The investor, which has grown its holdings rapidly since ... more

EBRD, EIB lend €82mn to Moldova for key gas pipeline toward Romania

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will lend €41mn each and the European Union will add a €10mn grant to fund a pipeline to link ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss