The combination of Pigu and HHG will result in the creation of the leading e-commerce and online marketplace platform operating across Lithuania, Latvia, and Estonia with a growing presence in Finland. Mid Europa Partners will emerge as the majority shareholder supported by MCI.Euroventures and the two founding share-holders of Pigu and HHG retaining significant stakes in the combined group.
With several million registered customers across four countries, over 2,000 merchants onboarded on Pigu's proprietary marketplace platform over the last year, as well as a unique portfolio of online shopping destinations such as pigu.lt, kaup24.ee, hansapost.ee, 220.lv, xnet.lv, and hobbyhall.fi, the combined Group is expected to lead the development of the region's rapidly growing digital economy by offering the best-in-class value proposition and online shopping experience for its customers and merchants alike.
Caroline Notté, lead counsel says: "It was a privilege assisting Mid Europa and teaming up with Dechert LLP on this innovative transaction, which consisted of the concurrent acquisition of two distinct targets and led to the creation of a major actor in the CEE online shopping sector."
NautaDutilh’s team was led by partner Margaretha Wilkenhuysen and further consisted of Caroline Notté, Nicolas Bonora, Messaouda Benbouzid, Vasiliki Gerou and Hugues Lefranc.
The official press release from Mid Europa is available here.