The Latvian competition authority, known as the Competition Council, has received a merger notification from SIA IREF Office and SIA IREF Office 2. This notification pertains to their intention to acquire significant influence over Eastnine Zala 1 SIA and Eastnine Alojas Biroji SIA.

SIA IREF Office and SIA IREF Office 2 are registered stock companies in Latvia, involved in various activities including the buying and selling of real estate, leasing and management of premises, mixed agriculture, and providing various financial services, as well as freight railway transport operations.

On the other hand, Eastnine Zala 1 SIA and Eastnine Alojas Biroji SIA are also registered companies in Latvia, primarily engaged in the leasing and management of their own or rented real estate, offering office and retail spaces in Riga.

The merging parties believe that their activities overlap in the office space leasing market and the retail center leasing market within the Riga area.

The Competition Council is required to make a decision regarding the merger's approval, prohibition, or approval with conditions within one month of receiving the notification. If a more in-depth investigation is necessary, this period may be extended up to three months from the date of notification.

Market participants or other interested parties wishing to provide their opinions on the potential impact of the planned merger on competition are invited to contact the Competition Council economist Sanda Blau at Sanda.Blaua@kp.gov.lv or fill out the provided questionnaire by May 12, 2026.