The Competition Council authorized the transaction by which Repsol Downstream Internacional S.A.U., Spain, intends to take over part of the share capital of Valtec Premium Lubricants S.R.L..

Following this transaction, Valtec Premium Lubricants S.R.L. will be owned by Valtec B.V. and Repsol Downstream Internacional.

Repsol Downstream Internacional S.A.U., Spain, is part of the Repsol group, active in the exploration, development and production of crude oil and natural gas, refining, production, transportation and sale of petroleum and petrochemical products, oil derivatives, natural gas and biofuels, as well as in the generation and sale of electricity. The Repsol group is active in Romania through three of its subsidiaries, which generate revenues locally.

Valtec BV, the Netherlands, specializes in market research and opinion polling, as well as in providing sales and marketing consulting and advisory services in relation to the trade in petroleum products, lubricants, chemicals, paper and related goods.

Valtec Premium Lubricants S.R.L. is active in the field of automotive and industrial lubricants. The company’s portfolio also includes ancillary products, such as professional hand hygiene solutions and personal protective equipment.

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