19 Martie 2009
Competition Council will not arbitrate Eureko Bancpost merger
Competition Council has decided not to intervene in the merger deal between Eureko Privately Managed Pension Fund and Bancpost Privately Managed Pension Fund, reads a press release remitted by Eureko.
According to the regulatory decision remitted by Competition Council to Eureko Pensions, the deal does not meet the thresholds for mandatory merger notifications, and thus it does not require the approval of the Council.
Under the provisions of Competition law, only the undertakings that exceed the thresholds set forth by the law are subject to investigation and must be notified to the Competiton Council.
The deal would meet the thresholds, if the combined turnover of the economic agents involved in an economic concentration operation exceeded 10 million euros and if there were at least two economic agents involved in the operation to run a turnover in Romania higher than 4 million euros each.
Privately-funded pension watchdog gave the green light to the takeover by merger of Bancpost’s pillar II pension fund by Eureko (former Interamerican), this being the phase of the deal’s authorization.
Under the provisions of Competition law, only the undertakings that exceed the thresholds set forth by the law are subject to investigation and must be notified to the Competiton Council.
The deal would meet the thresholds, if the combined turnover of the economic agents involved in an economic concentration operation exceeded 10 million euros and if there were at least two economic agents involved in the operation to run a turnover in Romania higher than 4 million euros each.
Privately-funded pension watchdog gave the green light to the takeover by merger of Bancpost’s pillar II pension fund by Eureko (former Interamerican), this being the phase of the deal’s authorization.