The Service of the Commission for the Protection of Competition has received a notification of a concentration according to Section 10 (4) of the Control of Concentrations between Enterprises Law of 2014, concerning the establishment of a joint venture by Limited Liability Company "Digital Assets" and natural persons, with the aim of acquiring a part of the business of 2GIS Limited
Limited Liability Company “Digital Assets” (hereinafter “Digital Assets”) is a limited liability company duly registered in accordance with the laws of the Russian Federation and is an indirect subsidiary of the Public Joint Stock Company ‘Sberbank of Russia’. Digital Assets does not operate directly and acts as a holding company within the Sberbank Group. The Public Joint Stock Company “Sberbank of Russia” is listed on the Moscow Stock Exchange and the majority of its shares are held by the Russian Federation. The Sberbank Group deals with banking and financial operations as well as IT services, advertising technologies, cyber security, cloud services, biometric data, telemedicine, the FoodTech system, media and online marketplaces.
2GIS Limited is a company duly registered under the laws of the Republic of Cyprus and is a company of the 2GIS Group which is fully controlled by natural person 1. The Target of this concentration is the activity worldwide (except for some countries specified in the agreement between the parties) in developing digital maps and databases of entities and entrepreneurs that are natural persons (but does not sell digital maps and database solutions) and the provision of advertising space for online services (webpage), mobile phone applications and computers through which users access and use digital maps and databases.
Natural person 1, in addition to the Target, controls undertakings engaged in the rental and management of own real estate and the provision of travel services.
Natural person 2 controls businesses engaged inter alia in medical, travel agency and hairdressing and beauty treatment services.
The Joint Undertaking will be set up in Cyprus and the Target to will transfer to it.