Merger between Extreme Digital and eMAG

The eMAG, the Hungarian subsidiary of the South African Naspers Group and the Extreme Digital Zrt. decided to merge, creating one of the key retail companies in the Central European region. The parties also announce the merger intent at the competition authority (GVH), so the transaction can be closed and merged after the approval of GVH, expected in the third quarter of 2019.

The merger of the two e-commerce companies will create a new company headquartered in Budapest, where the international expansion launched by Extreme Digital and eMAG will also be monitored. In the leadership of the new company, the founders of Extreme Digital, Várkonyi Balázs and Kelemen Gyula will have a leading role.