BRUSSELS BACKS TAKEOVER OF POLISH PERSONAL CARE PRODUCTS COMPANY POLBITA
May 1st, 2013
THE EUROPEAN Commission has approved the acquisition of Polish personal care products retailer Polbita by Austrian banking group Erste and the Italian-owned Polish bank Alior Bank. Brussels waved through the deal imposing no conditions using its fast-track simplified merger review procedure. Its formal note declared the takeover “compatible with the [EU] internal market…” and no threat to European competition. Polbita was established in 1989 on the fall of communism in Poland, bringing Palmolive, L'Oréal and Gillette to Polish consumers. It has more than ...
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