January 31 (SeeNews) - Romania's competition authority said that it has approved the takeover of Turkish real estate company Glokal Dijital Hizmetler Pazarlama ve Ticaret by Glocal Invest B.V.
"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 Wednesday evening.
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The value of the deal was not disclosed.
GI Local Invest BV, registered in the Netherlands, is held by Dogan Sirketler Grubu Holding, which is active in Romania and in the region in various areas: mass-media, energy, auto industry, real estate marketing, tourism and financial services.
Glokal Dijital Hizmetler Pazarlama ve Ticaret, founded in 2006 in Istanbul and active in the real estate sector, owns and operates an online commercial platform.