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BUCHAREST (Romania), November 12 (SeeNews) - Romania's competition authority said it has cleared the recent takeover of the Romanian subsidiary of France's CPS S.A.S. by German automotive products company Formel D.
"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 a dominant position," the anti-trust regulator said in a statement on Monday.
CPS S.A.S. has subsidiaries in six countries, including Romania.
Its Romanian subsidiary CPS Quality International EU SRL provides quality control services for the automotive industry in Romania.
Formel D GmbH has 22 branches in different countries, including Romania, where it is active through Formel D Romania SRL.