November 25 (SeeNews) - Romania's Romania’s anti-trust authority said on Friday it is looking into the agreed takeover of local automobile parts wholesaler East Truck Center by holding company Afin and two businessmen.
In order to determine whether the concentration is compatible with the normal competitive environment, the Competition Council will consider the notified transaction under the merger regulation, it said in a press release on Friday.
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Afin is a holding company which also holds shares in companies from Luxembourg and other countries.
The businessmen involved in the deal are Valentin Mereu, who is an associate of East Truck Center, and Maurizio Michele Giovanni Rossetto.
East Truck Center is a Romanian wholesaler of automobile parts and accessories established in 2015. The company recorded a net profit of 516,600 lei ($109,268/104,893 euro) in 2021 and a turnover of 30.8 million lei. At end-2021, the company employed 23, latest data from the finance ministry's website showed.
(1 euro=4.925 lei)