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BUCHAREST (Romania), July 5 (SeeNews) - Romania's competition authority said on Friday that it has approved the takeover of Romanian travel agency and tour operator Travel Brands by REWE's Exim Holding.
"Following a review of the transaction, the Competition Council found that it does not raise significant obstacles to effective competition in the market, in particular by establishing or strengthening of a dominant position," the anti-trust body said in a statement.
Exim Holding is part of Germany's REWE Group, which is active in tourism and retail. Exim Holding is present on the Romanian market through travel agency Dertour Romania and Penny stores.
Travel Brands, established in November 2018, is part of tourism group Eurolines Romania founded in 1995 by Romanian entrepreneur Dragos Anastasiu. The group is currently made up of 20 companies, employing over 600 in total.