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Romania's anti-trust body to look into takeover of Art Petrol by OMV Petrom Marketing

Romania's anti-trust body to look into takeover of Art Petrol by OMV Petrom Marketing Art Petrol fuel station, Romania

BUCHAREST (Romania), September 2 (SeeNews) -  Romania's competition authority said on Monday it will analyse the recent takeover of Romanian fuel stations network Art Petrol by OMV Petrom Marketing, a wholly-owned subsidiary of oil and gas group OMV Petrom [BSE:SNP].

"In order to determine if 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.

Founded in 2013, Art Petrol owns eight distribution stations located in Bucharest, Ilfov, Ialomita, Dambovita, Teleorman, Giurgiu and Arges counties.

Part of the Downstream Oil segment, OMV Petrom Marketing operated at end-2018 a network of 794 distribution stations on the regional fuel market, under two brands, OMV and Petrom, covering Romania, Moldova, Bulgaria and Serbia and offering a full range of products and services. OMV Petrom Marketing is also active in the wholesale segment of petroleum products, serving a wide range of industrial customers.

OMV Petrom's shares price was trading flat at 0.4130 lei on the Bucharest Stock Exchange at 1543 CET on Monday.

(1 euro=4.7230 lei)

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