Mid Europa Invests in the Leading Baltics E-Commerce Platform

Dechert advised Mid Europa Partners in its announced signing of a definitive agreement with MCI.Techventures and minority shareholders of UAB Pigu ("Pigu") to acquire 100 percent shareholding in the company. Dechert additionally advised on the combination of Pigu and Hobby Hall Group OÜ ("HHG"). The combination 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 (the "Group").

Mid Europa will emerge as the majority shareholder, supported by MCI.Euroventures (MCI buyout fund) and the two founding shareholders of Pigu and HHG retaining significant stakes in the combined Group. The transaction, which is subject to antitrust approval, is expected to complete in Q2 2021.

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 of proposition and online shopping experience for its customers and merchants alike.

The Dechert team advising Mid Europa Partners was led by partner Christopher Field and senior associate Ivo Čavrak and included associate Anthony Frost, senior associate Adam Kidane, partner Daniel Hawthorne and associate Nicolas Kokkinos.

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