February 3 (SeeNews) - Romania's competition authority said that it has approved the takeover of liquefied petroleum gas (LPG) distributor Panebo Gaz by local peer Gaspeco L&D.
"Following a review of the transaction, the Competition Council has 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 Friday.
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Gaspeco L&D, part of a group of companies controlled by two Romanian businessmen, delivers LPG in Romania and abroad. It is also active in LPG wholesale and marketing.
Panebo Gaz SRL, owned by Constantin Rizescu, focuses on the procurement of LPG from domestic suppliers and importers and LPG bottling and distribution to end customers in Romania.
(1 euro=4.7788 lei)