CRH Ciment SA and Comnord SA accepts Romania’s Competition Council fine for unauthorised merger

CRH Ciment and Comnord SA have been retrospectively fined RON3,056,314 (US$802,409) by Romania’s Competition Council for the implementation of a merger carried out before receiving the council's authorisation.

In its analysis of a recent transaction, through which CRH Ciment SA became the sole shareholder of CRH Comnord SA, the Competition Council found that a previous operation had not been notified and authorised according to current rules, which prohibits mergers without notification and before the council approves them as compatible with a normal competitive environment.

The alleged wrongdoings took place in 2001, at which time CRH Comnord SA (previously Lafarge Comnord SA) was owned by Lafarge Romcim SA and Comnord SA. CRH Ciment SA became the owner of Lafarge’s shareholding in Lafarge Comnord SA in 2015 and along with Comnord SA has accepted the fine.