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Bucharest
June 29, 2022
BUSINESS

The Competition Council authorizes Tatika Cypriot group to take over International Business Travel

The Competition Council has authorized the taking over of the Romanian company International Business Travel by the Tatika Cypriot group, the institution announced on Tuesday in a press release.

According to this source, the economic merger operation of the two companies puts no significant obstacles in the way of competition on the market of hotel services ranked 3 to 5 stars and the market of public nourishment services.

The Competition Council has published its decision on this operation on its website.

In Romania, the Tatika group directly controls the companies Parc Hotels, Wellkept Real Estate, The Woodlands Investments and Magnum Services and indirectly Tourism, Hotels and Restaurants – CG (via Parc Hotels). Parc Hotels operates the hotels Ramada Parc and Ramada Plaza in Bucharest.

International Business Trading is a Romanian company, whose main activity is to let and sublet their own or rented real estate goods. The company controls  Grand Plaza Hotels and manages Howard Grand Plaza Bucharest.

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