“This operation is an economic concentration which complies with the value conditions stipulated by law as a prerequisite for being cleared by the Competition Council. The turnover of companies involved exceeds the equivalent in lei of EUR10 million and at least two companies involved, each registers in Romania, a turnover higher than EUR4 million,” the antitrust watchdog said.
The Competition Council will assess the economic concentration in terms of its compatibility with the normal competitive environment, in accordance with the regulation regarding the authorization of economic concentrations.
At the end of July 2016, Elefant Online, which administers online store elefant.ro, has completed a new round of investments of EUR5.5 million by attracting EEAF to its shareholding structure. The investment aimed to speed up Elefant’s annual growth rate of over 50%.
During its six years of activity, Elefant has attracted several rounds of investments. Alongside Fribourg Capital, founding majority shareholder, Catalyst Romania, managed by 3TS Capital Partners, and EEAF, also entered Elefant’s shareholding structure.
Founded in 2010, elefant.ro set off as an online bookstore and, over the last years, it has powerfully extended towards new segments such as home appliances, toys, accessories and fashion.