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Romania's anti-trust body to look into takeover of Valahia Gaz by Aik Energy Ltd

Romania's anti-trust body to look into takeover of Valahia Gaz by Aik Energy Ltd Gas pipelines

BUCHAREST (Romania), October 23 (SeeNews) -  Romania's competition authority said on Wednesday that it will analyse the recent takeover of local gaseous fuels distributor Valahia Gaz by UK-based Aik Energy Ltd.

"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.

AIK Energy Ltd is active in natural gas extraction and wholesale of electricity, natural gas, crude oil and oil products. Most of its activities are focused on trading crude oil between Russia, Ukraine, Belarus, Moldova and Romania, Bulgaria, Macedonia, as well as between Greece and other Mediterranean countries.

AIK operates in Romania through its Bucharest branch, whose main activity is marketing gaseous fuels via pipelines.

Valahia Gaz was founded in 2017. 

(1 euro = 4.7601 lei)

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