March 18 (SeeNews) - Romania's competition authority said on Friday it has approved the takeover of local insurance brokerage company Safety Broker by Polish company Unilink.
"Following a review of the transaction, the Competition Council has found that it does not raise significant obstacles to effective competition in the market, in particular by establishing or strengthening of a dominant position," the Competition Council said in a statement.
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Following the transaction, Safety Broker de Asigurare will be jointly controlled by Unilink, Safety Credit and businessman Robert Nita. Safety Credit holds an 80% stake in Safety Broker and is currently owned by entrepreneur Viorel Vasile.
Established 11 years ago, Safety Broker de Asigurare is an insurance brokerage company with 100% Romanian private capital .
Warsaw-headquartered Unilink is owned by CEE-active private equity fund Enterprise Investors.
(1 euro=4.9481 Romanian lei)