Merger of RON 2 bn on Romanian online retail market. eMAG.ro administrator to take over the company behind fashiondays.ro

Dante International, the company operating eMAG.ro – the largest online retailer in Romania, will take over by absorption Fashion Days Shopping SRL, the company which manages www.fashiondays.ro, profit.ro informs. The merger, estimated at RON 2 billion, will become operational on July 1, in order to improve company’s efficiency.

The associates of Fashion Days Shopping are Dante International – 99.9999 percent and Romanian businessman Iulian Stanciu – 0.0001 percent.

Dante International is owned by MIH B2C Holdings BV (Netherlands) – 76.841 percent and Iulian Stanciu – 23.159 percent. The Dutch company is part of the South African Naspers Group.

After the merger is completed, MIH B2C Holdings BV (Netherlands) will hold a stake representing 77.2098 percent of the share capital of Dante International and Iulian Stanciu – a share of 22.7902 percent.

“Operationally speaking, there will not be any changes, the online platform operated by Fashion Days Shopping being taken over as such by Dante International, without affecting the continuity of supply selling services to consumers. Also, the merger will not cause any negative impact on the level of activity generated by eMAG.ro operated by Dante International,” the document reads.

Fashion Days Shopping SRL Bucharest turnover reached RON 221.3 million in 2015 to RON 208.2 million a year ago. The losses increased by RON 4.4 million to RON 7.6 million, according to the Ministry of Finance. The turnover of eMAG (Dante International) increased by 36.4 percent in 2015 to RON 1.7 billion.

Dante InternationaleMAG.roFashion Days Shopping SRLfashiondays.roiulian stanciumergerMIH B2C Holdings BV (Netherlands)naspers groupRomanian online retail markettakingover
Comments (0)
Add Comment