March 9 (SeeNews) - Romania's competition authority said that it has approved the recent takeover of Great United Trading, Win Bright (Asia) Limited and, indirectly, Timeout Italia by Montecristo Retail RO.
"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.
You can subscribe to our M&A newsletter here
Montecristo Retail RO sells clothing and footwear under the Kenvelo, Lee Cooper and Timeout brands on the Romanian market.
Great United Trading sells clothing and footwear through its own network of stores in the Czech Republic and is one of Montecristo Retail's suppliers.
Win Bright (Asia) Limited is a trademark rights company with no other business activity.
Timeout Italia, owned by Great United Trading, is active on the clothing and footwear retail market in Italy.