The Competition Council has approved the economic concentration operation carried by Raiffeisen Landesbank Oberösterreich AG by procuring the full control over Impuls Leasing International AG, Impuls-Leasing Romania NBFI SA respectively, and Impuls-Leasing Services SRL respectively.

As the competition law sets forth, every economic concentration operation that exceeds the values established in the regulation must be notified to the Competition Council.

They are compliant to these thresholds if the combined turnover of the economic agents involved in an economic concentration operation exceeds 10 million euros and if there are at least two economic agents involved in the operation to run a turnover in Romania higher than 4 million euros each, reads the press release.

Raiffeisen Landesbank Oberösterreich AG is an Austrian-based financial institution. In Romania, the bank runs lending operations, leasing refinance and short-dated interbank deposits.

Impuls Leasing International AG, is a Swiss holding with no commercial activity running. In Romania, the company holds Impuls-Leasing Romania IFN SA and Impuls-Leasing Services SRL. Impuls-Leasing Romania IFN SA is a financial institution that carries financial leasing activities. Impuls-Leasing Services SRL was established in 2008 and is active in light-vehicle rental and operational leasing.