Romanian Competition Council approves acquisition of Curiero
Romania’s Competition Council gave RTC Holding, one of the largest distribution and retail groups in Romania, the green light to take over Romanian major courier company Curiero and its subsidiaries Curiero Express and Curiero Spedition, according to Mediafax News Brief Service.
The Council confirmed that the transaction does not breach competition rules. RTC Holding will operate the parcel and freight transport services of Curiero through its existing subsidiary TCE Logistica, another Romanian major courier operator.
Two months ago, TCE and Curiero announced plans to merge their businesses in order to strengthen their competitive position targeting combined revenues of EUR 30 million this year. TCE, the smaller of the two companies, yet financially a stronger one, recorded revenues of EUR 11 million last year while Couriero had revenues of EUR 14 million.
There have been several major transactions in the Romanian CEP market this year, including DHL’s acquisition of Cargus, GeoPost’s purchase of a 80 pct stake in Pegasus and the UPS buyout of local partner TCS. The Romanian courier services market is estimated at EUR 200 million.
Romania’s Competition Council gave RTC Holding, one of the largest distribution and retail groups in Romania, the green light to take over Romanian major courier company Curiero and its subsidiaries Curiero Express and Curiero Spedition, according to Mediafax News Brief Service.
The Council confirmed that the transaction does not breach competition rules. RTC Holding will operate the parcel and freight transport services of Curiero through its existing subsidiary TCE Logistica, another Romanian major courier operator.
Two months ago, TCE and Curiero announced plans to merge their businesses in order to strengthen their competitive position targeting combined revenues of EUR 30 million this year. TCE, the smaller of the two companies, yet financially a stronger one, recorded revenues of EUR 11 million last year while Couriero had revenues of EUR 14 million.
RTC Holding includes seven additional business divisions, namely Diverta (book retail, video games, music, film, IT and stationery), Proffice (office and IT products distribution), ProCA (IT products distribution), Rafar (clothing retail, footwear and cosmetics franchise industry), Flaro (furniture and office products), RTC Imobiliare and Sistec-SBsol (software development).
There have been several major transactions in the Romanian CEP market this year, including DHL’s acquisition of Cargus, GeoPost’s purchase of a 80 pct stake in Pegasus and the UPS buyout of local partner TCS. The Romanian courier services market is estimated at EUR 200 million.
