“The antitrust watchdog will assess the economic concentration operation in terms of its compatibility with the normal competitive environment and will issue a decision under the legal deadlines”, the watchdog said in a statement.
The deal is worth over EUR60 million, according to ZF estimates based on market data.
LafargeHolcim CEO Jan Jenisch said the acquisition of Somaco enables LafargeHolcim to enter Romania’s fast growing precast concrete market and to become an integrated solutions provider for its local customers.
Somaco has six factories located in Roman (Neamt County), Adjud (Vrancea County), Buzau, Teius (Alba County), Targoviste (Dambovita County) and Timisoara.
The company is one of the leading manufacturers on the local market precast concrete products used in the field of road, electrical and water-sewerage infrastructure, as well as in the sector of constructions of shopping centers, logistical and manufacturing halls. Somaco had also built stores for retailers Carrefour, Metro, Dedeman and Kaufland, according to company data.
The company reported a turnover of RON212.6 million and a profit of RON18.8 million in 2018, according to Finance Ministry data.