Competition watchdog okays shopping mall merger

The Latvian Competition Council (KP) has allowed the Lithuanian Akropolis Group to purchase one of Rīga's biggest shopping malls Alfa, KP said November 29.

The Council does not see significant harm to competition in the deal, therefore it was permitted.

Lithuanian Akropolis Group, which owns three large shopping centers in Lithuania as well as Akropole in Rīga, announced in August that it is buying one of the biggest shopping malls in Rīga, Alfa.

A deal has been signed to acquire 100% of the shareholding in Latvian company Delta Property, which owns the land and building of Alfa at Brīvības street 372, the main road into Rīga from the north. The parties have agreed not to announce the value of the intended transaction.

The total area of the shopping center Alfa is about 154,000 sq. m, net of the parking lot it amounts to 94,000 sq. m, the leasable shopping area is 71,000 sq. m. 1,750 cars can be parked at the same time at the parking lot. 210 shops operate in the shopping center.

 

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