The Latvian Competition Council has assessed a merger that would allow Kočkar, a Turkish entrepreneur, to acquire decisive influence over the Lithuanian company 'Novaturas', which includes control over the Latvian travel operator SIA 'Novatours'. This merger could be executed through a purchase agreement with current shareholders of AB 'Novaturas' or by acquiring shares listed on the exchange from minority shareholders. In Latvia, Kočkar operates through the company 'Baltic World', using the brand 'Anex', and focuses on providing travel packages to sunny destinations, including flights, accommodations, transfers, and excursions.

The Competition Council evaluated the competition landscape in the Latvian leisure travel market, distinguishing the sales of leisure travel packages to Turkey and Egypt, which are crucial destinations for the merger participants. This focus is particularly significant as Turkey and Egypt are key markets for holiday travel, which makes the outcome of this merger vital to both local and regional tourism sectors. The investigation aims to ensure that the merger does not hinder competition or limit options for consumers within the leisure travel sector in Latvia.

Overall, this development suggests a strategic expansion for Kočkar's business interests in the Baltic region, raising questions about potential shifts in market dynamics and the possible consolidation of travel service providers in Latvia. The approval process may lead to new partnerships and competitive strategies that could alter the landscape of travel options available to Latvian consumers.