EU Commission approves Baumax takeovers by Obi

The European Commission has approved the takeover of 14 Baumax stores in Slovakia, five in the Czech Republic and two in Slovenia by Obi. The decision is based on the assessment that the transaction should not give rise to any concern for competitors, as the merged market share of the two companies will not be too great. The Austrian cartel authorities have already given the go-ahead for the acquisition of 49 of the 65 Baumax stores in Austria by German market leader Obi.