In the
first quarter of 2025, the Romanian Competition Council (“RCC”)
published several significant decisions, launched new investigations, and
imposed fines in cases involving abuse of dominant position, price
coordination, and other anticompetitive practices.
1. New FDI
Guidelines
In February the RCC published the draft FDI
guidelines (the “Guidelines”), which were up for public
consultation until mid-March. The Guidelines aim to clarify the method for the
calculation of the investment value in different types of transactions, such as
share deals, share capital contributions, multi-jurisdictional transactions, or
in case of a loan or financing by an investor.
Furthermore, the Guidelines clarify that it is
possible to file based on a preliminary agreement, such as a Letter of Intent
or a Memorandum of Understanding, provided that the agreement clearly shows the
parties’ intention to carry out the investment.
Additionally, the Guidelines
also aim to define the concept of “control” in the context of foreign
investments, aligning it with the definition used in merger control
proceedings.
2. Mergers
& acquisitions
The RCC published nine
decisions authorising economic concentrations across various sectors, including
insurance, DIY products, automotive retail and power generation, transmission
and distribution. Additionally, the RCC approved the transaction under which
the oil company OMV Petrom outsources certain transport services along with related
personnel.
3.
Investigations
Investigation into LPG port operating
services market
In January, the RCC initiated an investigation
into a local company active in the liquefied petroleum gas (LPG) port operating
services market (i.e., Octogon Gas S.R.L. and its parent company, NSS Oil &
Gas S.R.L.) for alleged abuse of dominant position by refusing to provide
services to a client without any objective justification. The RCC carried out
dawn raids at the headquarters of both companies.
Investigation into the residential
construction services market
In February, the RCC announced the launch of an
investigation into three companies operating on the construction services
market, focusing on potential bid-rigging activities in tenders organised by
the National Housing Agency (Agentia Nationala pentru Locuinte). The
companies may have coordinated their actions in order to divide the market.
Should the RCC identify a breach of competition rules, the companies could face
fines of up to 10% of their turnover.
Fine for abuse of dominant position in
the COPD medication market
The RCC has fined pharmaceutical company
Boehringer Ingelheim RCV Gmbh & Co KG roughly EUR 26 million for abusing
its dominant position in the market for medications treating chronic
obstructive pulmonary disease (COPD). Between 2017 and 2021 the company
restricted market access to the cheaper generic version of a specific drug. The
investigation was initiated following information received through RCC’s
whistleblowing platform.
Fine for price coordination in the cement
market
The RCC has imposed a total fine of approximately
EUR 44 million on three companies active on the cement market (i.e., Holcim
Romania S.A., Romcim S.A., and Heidelberg Materials Romania S.A.) for
coordinating pricing policies. The three cement producers exchanged sensitive
information through their clients, including future prices, discounts, payment
conditions and volumes. This information was then used to coordinate pricing
policies, reducing competition & state aid law firm
and leading to higher cement prices compared to neighbouring countries.
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