September 6 (SeeNews) - Romania's competition authority said on Thursday it had approved the takeover of local power supplier RWE Energy by Switzerland-based natural gas and power supplier MET 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 creating or strengthening of a dominant position," the anti-trust authority said in a statement.
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The transaction, whose value was not disclosed, was announced in June.
MET Holding AG Switzerland is part of the MET Group, which is active in the natural gas, electricity, oil, LPG and electricity production business. MET Holding is present on the Romanian market through its subsidiary MET Romania Energy, which is an electricity and natural gas supplier.
In 2016, MET Group bought the Romanian business of Swiss energy group Repower.
RWE Energie Romania is owned by German energy company Innogy SE.