“The antitrust watchdog assessed the economic concentration operation in terms of its compatibility with the normal competitive environment and found it poses no significant obstacles in terms of actual competition on the Romanian market, or on a significant part of it”, said the antitrust body.
Smart Diesel had a turnover of RON1.47 million in 2020, slightly lower than the RON1.5 billion level reported in 2019, and a profit of over RON500 million, per finance ministry data.
Smart Diesel business was designed mostly to serve commercial customers and has partnerships with filling stations abroad, on markets such as Austria, Slovenia, Belgium, Spain and the Czech Republic. The company also operates its own network of some 30 filling stations in Romania.
Following the transaction, Smart Diesel Group will continue to operate as standalone unit within DKV Group.
Until the moment of transaction, Smart Diesel had been held by Transport Service Group (with 49% of the shares), which, in turn, is held by Ovidiu-Ioan Andries (70% of the shares), per Trade Register data. Smart Diesel’s shareholding structure also includes Daniel-Mihai Imbre (25%), Ovidiu-Ioan Andries (22%) and Petru Farcas (4%).