30.06.2023 The Competition Council (CC) made a decision to allow the merger of the Estonian Baltcap Private Equity Fund III Usaldusfond UÜ with the Estonian holding company Osaühing Hansab Group. The CC did not find any significant harm to competition and therefore decided to clear the transaction.

The main activity of BaltCap Private Equity Fund III Usaldusfond UÜ is the management of the investment fund that invests in businesses in different industries. However the second merger partner, Osaühing Hansab Group, is a holding company registered in Estonia whose main activity is the sale of comprehensive solutions, including hardware with integrated software, as well as the service and maintenance of the solutions sold. Its subsidiary is SIA “Hansab” registered in Latvia that works in the sale, service and maintenance of comprehensive solutions.

Having assessed the information provided by the undertakings and available to the CC, the CC concludes that the merger will not result in a significant change in the market structure, lessen competition, or create or strengthen a dominant position on the affected markets in Latvia, and that the merger is therefore permissible.