BUCHAREST (Romania), December 7 (SeeNews) - Romania's competition authority said that it has approved the recent takeover of the local subsidiaries of Moldova-based Glass Container Company and Glass Container Prim by Vetropack Austria Holding.
"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
Under the deal, Vetropack will take over indirectly two Romanian units of Glass Container Company and Glass Container Prim, namely Glass Container Company-SP S.R.L. and Glass Container Prim-SP S.R.L. The main activity of the two local subsidiaries is the sale of glass packaging produced by their parent companies in Moldova.
Glass Container Prim is a producer of a wide range of green, brown and transparent glass packaging solutions. Glass Container Company is a supplier of glass solutions which exports its products to over 20 countries worldwide.
Vetropack Austria Holding is a subsidiary of Swiss group Vetropack Holding which is active in the European glass packaging industry.
At the beginning of August, Western NIS Enterprise Fund (WNISEF) and Bucharest-listed Purcari Wineries said that they had reached an agreement to sell their stakes in Moldova-based Glass Container Company and Glass Container Prim to Vetropack Austria Holding.