February 20 (SeeNews) - Romania's competition authority said on Thursday that it has approved the takeover of civil engineering company Comoserv by French group SNEF.
"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.
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Comoserv, a member of Marco Group of companies, was founded in 2006, as a limited liability company with Romanian private capital. Its main activity was initially related to civil engineering works, but over the years, it started being active in manufacturing, installation and servicing of chemical and petrochemical industries equipment, cellulose and paper, cement, food and beverage, power generation and metallurgic industries.
SNEF is focused on the energy, maritime, nuclear and telecommunications sectors, with operations in Africa, Eastern Europe and South America. It employs 9,000 worldwide.