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Romania's anti-trust body to look into takeover of Vestas wind farms by Ingka Group

Romania's anti-trust body to look into takeover of Vestas wind farms by Ingka Group The V112-3.0 MW turbine model. Courtesy of Vestas Wind Systems A/S.

BUCHAREST (Romania), September 23 (SeeNews) - Romania's competition authority said that it will analyse the recent takeover of an 80% stake in seven Romanian wind farms from Danish wind turbine maker Vestas by Ingka Group, the parent company of Swedish furniture retailer IKEA.

"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 on Monday.

On September 13, Ingka Group said that it has signed an agreement to buy an 80% stake in seven Romanian wind farms from Vestas for 136 million euros ($150.2 million).

The deal involves the purchase of 64 turbines with a total capacity of 171 megawatts, Ingka said in a press release at the time.

Vestas designs, manufactures, installs, and services wind turbines across the globe. It currently has over 86 GW of wind turbines under service in more than 80 countries and employs 24,500 globally. The company entered the Romanian market in 2008.

INGKA Holding B.V. is based in the Dutch city of Leiden. It is the holding company that controls 315 of the 360 outlets of Swedish furniture retailer IKEA. The group also owns and operate 441 wind turbines in Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Lithuania, Poland, Portugal, Sweden, the UK and the U.S. 

($=0.9049 euro)

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