Competition Council Clears Takeover Of Elgan Automotive KFT And Elgan Automotive SRL By Globalworth

Romania’s Competition Council has approved the transaction whereby Globalworth Real Estate Investments Limited is acquiring Elgan Automotive KFT S.C. and Elgan Automotive S.R.L.

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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.

Globalworth Real Estate Investments Limited focuses on the acquisition, development and management of real estate assets in Europe, mainly in Romania. Globalworth's portfolio currently includes 15 real estate investments, all located in Romania (14 in Bucharest and one in Timisoara). Most of the investments are A class office buildings, followed by the residential and industrial segments.

Elgan Automotive KFT was founded to develop and lease an industrial facility to S.C. Dacia Automotive S.A.. Elgan Automotive KFT owns 100% of the share capital of S.C. Elgan Automotive S.R.L., which owns the land on which Dacia Automotive S.A facility was built.

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