November 13 (SeeNews) - Romania's competition authority said on Tuesday it will look into the recent takeover of IT company Net Brinel by French group SNEF.
"In order to determine the concentration 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.
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Founded in 1991 by Romanian entrepreneur Marcel Borodi, Net Brinel is part of Brinel Group providing software, hardware and communications solutions.
The company posted a 5.3 million lei ($1.3 million/1.1 million euro) profit in 2017, up 11.5% on the year, as its revenue rose by 31% to 159 million lei.
SNEF is focused on the energy, maritime, nuclear and telecommunications sectors, with operations in Africa, Eastern Europe and South America. It employs 9,000 worldwide and generates some 900 million euro ($1.01 billion) in revenues per year.
(1 euro=4.6599 lei)