5 August 2008 - The Romanian Competition Council has given the green light to dairy products maker Covalact to acquire Primulact and Lactate Harghita after saying that the transaction does not breach competition rules.
It is expected that the three companies will have a common board.
Covalact reported a turnover of approximately 20 million euro in 2007 and expects this year's turnover to grow 17-18% to about 23 million euro.
Covalact, as reported by FLEXNEWS in August last year, is 70%-owned by American investment fund SigmaBleyzer, which reportedly acquired its stake in the dairy producer for 7 million euro.