May 26 (SeeNews) - Romania's competition authority said that it has approved the takeover of the textile materials manufacturing division of local car automotive interior elements manufacturer Adient Group, a unit of Irish group Adient, by U.S.-based Sage Automotive Interiors.
"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 on Monday.
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Sage Automotive Interiors manufactures automotive interior materials for several car manufacturers and is present in the U.S. Mexico, Brazil, Italy, Poland, Romania and China. In Romania, Sage Automotive Interiors operates through its subsidiary European Interior.
Adient has seven manufacturing facilities in Romania, according to its data on its website.