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BUCHAREST (Romania), December 4 (SeeNews) - Romania's competition authority said that it will look into the agreed takeover of the local operations of Czech Republic-based healthcare company Walmark by Germany-headquartered STADA Arzneimittel.
"In order to determine whether the concentration is compatible with a normal competitive environment, the competition authority will consider the notified transaction under the merger regulation," the Competition Council said in a statement on Tuesday.
Private equity investor Mid Europa Partners said at the beginning of November that it has signed an agreement to sell Walmark's business in Romania, Bulgaria and seven other EU countries to STADA.
The transaction is is subject to customary anti-trust clearance is expected to close in the first quarter of 2020, CEE-focused Mid Europa said at the time.
Walmark is a supplier of dietary supplements present in nine EU countries: Romania, Bulgaria, the Czech Republic, Lithuania, Estonia, Latvia, Slovakia, Hungary and Poland.
In Romania, the company posted a 14.6 million lei ($3.4 million/3.1 million euro) profit in 2018, up 60% year-on-year, on a turnover of 85 million lei, up 17%, data posted on the finance ministry's website show. Walmark has been present in Romania since 1997 and employed 64 at the end of 2018.
In December 2012, Mid Europa acquired 50% of Walmark from the company's founding shareholders.
Stada Arzneimittel is a pharmaceutical company based in Bad Vilbel, Germany which specializes in the production of generic and over-the-counter drugs. It sells its products in over 120 countries and employs 10,400 worldwide.
(1 euro=4.7762 lei)