“The Commission has come to the conclusion that the announced transaction does not create concerns about the distortion of economic competition due to the limited joint position of the companies on the market that results from the transaction,” the EU executive informed.
As she added, the transaction mainly concerns the trade in cereals, oilseeds, animal feed and mineral fertilizers.
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The Romanian company East Grain reported on the business last fall. She did not disclose the value of the transaction at the time, but said that it could be one of the largest foreign investments in the Romanian agricultural and food industry in the past year.
East Grain is headquartered in Romania, but also operates in Serbia and Hungary. Its main activity is trade in grain and oilseeds, but it also provides other services in logistics and storage of agricultural commodities. Last spring, the company announced that its revenues had reached more than one billion Romanian lei (five billion crowns).
Bakery companies such as Penam also belong to the Agrofert holding from the trust fund of the former prime minister and head of the ANO movement Andrej Babiš.
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Tags: European Commission authorized Agrofert Romanian grain trading company
