September 24 (SeeNews) - Romania's competition authority said that it has approved the recent takeover of Li-Corn by salty snacks producers Intersnack International and Michael Ehmann.
"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 Competition Council said in a statement on Wednesday.
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The two companies will jointly take over Li-Corn SAS and its subsidiaries - Natais SAS, Natais Pop Corn South Africa SAS and SCI Pop Corn Immobiliere.
The Michael Ehmann Group operates mainly in the popcorn industry, especially through its subsidiary, Li-Corn, which has a low presence in Romania, according to the council.
The Intersnack Group is active in the production and distribution of salty snacks in Europe and other continents. It produces over 600,000 tonnes of snacks including potato chips, nuts, baked products and specialty snacks annually, according to its website.