“Following an analysis, the Competition Council found the operation poses no significant obstacles in terms of actual competition on the Romanian market, or on a significant part of it and there is no serious doubt regarding its compatibility with the normal competitive environment”, the antitrust watchdog said in a statement.
Following the transaction, Autonet Group Holding will own 51% in Augsburg International (AL) and the current shareholders will hold 49% of the shares.
Augsburg International Impex was established by entrepreneur Marius Constantinoiu 25 years ago and posted RON566.8 million (EUR117.6 million) revenue, more than RON7.8 million (EUR1.6 million) net profit, and had 473 employees on average in 2020, Finance Ministry data show.
The company headquartered in Bucharest operates as an importer and wholesaler of automotive parts and servicing equipment and provides car and commercial utility vehicle fleet management services. It owns a more than 20,000 square meter central warehouse and 36 regional warehouses.
Autonet Group Holding is one of the leading players on the automotive aftermarket segment in Central and Eastern Europe (CEE), being present in five countries (Romania, Hungary, Slovakia, Slovenia and Serbia) and comprises 14 companies. AGH is present on the local market through the companies Autonet Import and Lubexpert Romania. AGH is part of Switzerland’s Swiss Automotive Group (SAG).