The agency has approved the transaction between Coop Eesti Keskühistu and the Finnish cooperative retail group SOK, under which Coop will acquire Prisma Peremarket and its 13 stores.

The Competition Authority approved the merger of Coop and Prisma on May 6, justifying the decision by stating that the retail market for food and essential goods in Estonia is mature and well established, and that the consolidation of the two retail chains will not create significant competition problems in the sector, Coop said.

Rainer Rohtla, chairman of the management board of Coop Eesti Keskühistu, said all preconditions of the agreement will be finalized during the summer.

The change of ownership will take place at the end of August, and the gradual transition of Prisma stores will begin in September and is planned to be completed during this year.

"Until then, both chains will continue operating as usual and nothing will change for customers," Rohtla said.

Coop and SOK announced on April 7 this year that Coop would acquire AS Prisma Peremarket and its 13 stores. As a result of the transaction, Coop's market share in Tallinn will increase from the current 5 percent to 17 percent, and nationwide from 23 percent to 28 percent.

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