Asesoft Distribution Fined RON3.18M For Rushed Merger

04.12.2011 By Andrei Circhelan

The Romanian Competition Council has fined Asesoft Distribution with 3.18 million lei (EUR1=RON4.1084) for implementing a merger before obtaining antitrust approvals, the regulator said Tuesday in a statement.

The Romanian Competition Council has fined Asesoft Distribution with 3.18 million lei (EUR1=RON4.1084) for implementing a merger before obtaining antitrust approvals, the regulator said Tuesday in a statement.

Asesoft Distribution issued a news release saying it has offered its full cooperation throughout the council's investigation. Furthermore, the fine, kept at a minimum level, was expected and accepted, according to the company.

In 2009, Asesoft Distribution took over the distribution unit of Flamingo International, before receiving the Competition Council's approval, according to the authority's investigation.

The acquisition enabled the Asesoft group to focus on direct sales to end-users, through retail as well as through large corporate contracts.

The Competition Council approved the operation in January 2011.

Asesoft Distribution is part of the group of companies owned by businessman Iulian Stanciu.