The Competition Council announced on Monday, December 29, that it approved the transaction through which Liberty Galaţi intends to acquire Phoenix Slag Services SRL. Liberty Galaţi is Romania's largest integrated steel producer.

The transaction is part of the implementation of Liberty Galaţi's restructuring plan, which has been approved by the Galaţi Tribunal. The plan includes, among other measures, the internalization of certain auxiliary activities necessary for the steel production process.

The Competition Council said in a statement that it had authorized the takeover of Phoenix Slag Services by Liberty Galaţi SA following an assessment of the transaction's impact on market competition. 

"Following its analysis, the Competition Council found that the transaction does not raise significant obstacles to effective competition on the Romanian market or a substantial part of it, and that there are no serious doubts regarding its compatibility with a normal competitive environment," reads the statement.

Liberty Galaţi's core activity is the production and sale of metallurgical products, and the company operates the largest integrated steelmaking facility in Romania.

Phoenix Slag Services SRL operates mainly on the industrial platform of Liberty Galaţi, providing specialized industrial cleaning services, processing slag resulting from steel production, and handling the evacuation of hot metal. Liberty Galaţi is the company's main client.

irina.marica@romania-insider.com

(Photo source: Liberty Galati)