BUCHAREST (Romania), November 7 (SeeNews) - Romania’s competition authority said on Thursday that it has approved the acquisition of a majority stake in Romanian water bottling and distribution company La Fantana by US-based holding company Axel Johnson Inc. (AJI).
The Competition Council found no significant concerns regarding the effect of the transaction on competition in the country, it said in a statement.
AJI will control La Fantana together with Romanian entrepreneur Cristian Amza, the founder of the water bottling and distribution business.
The US-based holding company announced the acquisition of the majority stake from Swedish investment fund Oresa last week, saying that La Fantana will become part of AJI's water business Kinetico Inc., allowing it to expand to new products, services, and geographies.
Founded in 2000, La Fantana is a leading provider of water and coffee solutions for the commercial, office, and residential markets. The company currently operates in Romania and Serbia and employs 1,000 people.
AJI owns and operates a diversified group of companies that provide highly engineered products and services in various industries, including water, food, robotics, building materials, and wood.