February 1 (SeeNews) - Croatia's anti-trust regulator, AZTN, said on Wednesday it has approved the acquisition of local retailer Billa, trade and services company Billa nekretnine and Minaco by Austria-based Spar AG.
Spar AG, via its local unit Spar Hrvatska, will take over the business operations of Billa, Billa nekretnine and Minaco, in their entirety, AZTN said in a statement.
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"This includes all of Billa's retail outlets and the management of business activities run by Billa nekretnine and Minaco," the regulator explained.
The acquisition will affect competition on the Croatian grocery retail market, AZTN said. It, however, added that the combined market share of the companies, following the merger, will be below 10% in Croatia as a whole.
Spar said in December that with this acquisition it will grow its network to over 100 stores in Croatia.
Spar Hrvatska is wholly owned by SPAR Osterreichische Warenhandels-AG, i.e. Spar Austria, and employs 3,000 people.
According to Billa's website, Billa and the two other companies were previously owned by REWE International.