Romania’s Competition Council has approved the transaction whereby Cyprus-registered Tatika Investments, which owns the Ramada Parc and Ramada Plaza, takes over International Business Trading, owner of Howard Johnson Bucharest, writes zf.ro.
“The Competition Council evaluated the merger operation in terms of its compatibility with a normal competitive environment and came to the conclusion that the operations does not present significant impediments in the way of competitiveness on the 3 to 5 stars hotel market and on the public food services market”, according to a statement from the antitrust authority.
Tatika Investments Ltd. directly controls the Park Hotels, Wellkept Imobiliare, The Woodlands Investments and Magnum Services and practices an indirect control over Turism Hoteluri si Restautrante – CG.
Parc Hotels is the local operator for Ramada Parc and Ramada Plaza hotel in Bucharest. International Business Trading is the owner of Grand Plaza Hotels, administrator for Howard Johnson Grand Plaza Bucuresti.
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