We wrote earlier about a planned JV between two leading retailers of consumer electronics and home appliances in Serbia, which went to Phase II. In the meantime, the parties seemed to have changed the structure of the transaction and, instead of a JV, the planned combination would consist in one of the involved retailers acquiring the other.

As a reminder, the parties involved are Roaming Group and WinWin Group. Both groups are active in the retail of consumer electronics and home appliances in Serbia and are leading market players. The NCA launched the initial Phase II as it was concerned that the JV may lead to a significant change in the market structure, due to a large market share of the combined entity.

After the shakeup in the structure, instead of through a JV, the planned transaction is to be implemented as acquisition of sole control by Roaming Group over WinWin Group. Accordingly, the NCA terminated the Phase II investigation of the JV and instead opened a Phase II probe of the planned acquisition of WinWin.

Since the NCA started the Phase II on July 2, the NCA now must decide about this case by the end of October this year. As is usual when it opens a Phase II, the NCA invited interested parties to submit their comments concerning the examined transaction.