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Nov 18, 2022 17:27 EEST
November 18 (SeeNews) - Romania's Competition Council said on Friday it has approved the agreed takeover of hydropower and hydrotechnical construction company Hidroconstructia and its subsidiaries by Electromontaj, an electricity infrastructure company.
The anti-trust body’s analysis revealed that the acquisition poses no significant threats to the national market and that there are no serious doubts regarding its compatibility with a regular competition environment, according to a press release.
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The institution announced back in September that it was looking into the acquisition.
Hidroconstructia originates from the former General Department of the Bicaz HPP founded in 1950 as the sole constructor of the hydropower installation at Bicaz, northeastern Romania. The company has been insolvent since January 2022, when it filed a court request in Bucharest.
Part of Group H4L, Electromontaj designs, builds, transforms and maintains infrastructure for the distribution of electricity. Group H4L is active in real estate, renting, logging as well as in the production and trading of electrical energy and natural gas.
(1 euro=4.9418 lei)
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