September 25 (SeeNews) - Romania's competition authority said on Tuesday it has approved the acquisition of Romanian baked goods producer Pambac by local fertiliser and cereals wholesaler Popasul Trebes.
The acquisition of Pambac Bacau by Popasul Trebes is compatible with the requirements of competitive environment, the anti-trust body said in a statement.
You can subscribe to our M&A newsletter here
In 2015, the Competition Council approved the takeover of Pambac by both Popasul Trebes and local peer Comfert Agricultura. The new transaction through which Pambac will be fully owned by Popasul Trebes is a consequence of the splitting of the two companies.
Pambac is a company with 100% domestic private capital founded in 1968 as a milling and baking enterprise in Bacau county, in northeastern Romania. In 1995, the enterprise became a joint stock company and changed its name to Pambac SA.
Popasul Trebes was founded in 1991 in Bacau county and focuses on trading in chemical fertilizers and agricultural products such as wheat, maize and barley through its fully owned company Cerealcom. It is also active in road transport services.
(1 euro = 4.4663 Romanian lei)