BUCHAREST (Romania), September 9 (SeeNews) - Romania's competition authority said that it is looking into the recent takeover of the local subsidiaries of Moldova-based Glass Container Company and Glass Container Prim by Vetropack Austria Holding.
In order to determine whether the concentration is compatible with a normal competitive environment, the Competition Council will consider the notified transaction under the merger regulation, it said in a press release on Monday.
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The anti-trust body will take a decision within 45 days.
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. și 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. Its sister company 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.