On December 12, 2024, the Competition Council (KP) decided to allow AS PD CAPITAL to gain sole decisive influence over SIA PRO GROUP and SIA SPYKE. The KP found no significant harm to competition, leading to the approval of the transaction.

AS PD CAPITAL primarily operates as a holding company, with its associated companies involved in real estate management, residential and non-residential building construction, and project development. Before the transaction, AS PD CAPITAL already had joint decisive influence over SIA PRO GROUP, a Latvian company focused on the renovation of multi-apartment buildings, project administration, construction planning, and supervision.

SIA SPYKE, also registered in Latvia, is engaged in the construction of residential and non-residential buildings, particularly in infrastructure and communication works, along with project administration and construction supervision.

The merger participants operate in a horizontally related market, providing construction services for residential and non-residential buildings. The KP concluded that the merger would not significantly alter the market structure, reduce competition, or create or strengthen a dominant position in the affected markets in Latvia, thus allowing the merger.

To prevent significant reductions in competition resulting from mergers, the Competition Council requires approval for transactions that meet the criteria set out in the Competition Law. This ensures state control over market concentration, preventing structural changes that could limit consumer choices or lead to non-competitive pricing for goods and services. More information on merger control in Latvia is available on the Competition Council's website under the 'Merger of Market Participants' section.