Bosch has green light to acquire Fagor Mastercook

Household appliance production group BSH (Bosch und Siemens Hausgeräte) was given an approval to acquire bankrupt FagorMastercook based in Wrocław. The anti-monopoly watchdog UOKiK said that after the merger, the German company is going to meet with "effective competition" in Poland, therefore the transaction means no harm to the market. The German company signed a preliminary deal with Fagor's receiver on April 17. The deal is valued at PLN 90 million. In line with the deal, PLN 5 million will be committed to severance pay for the employees. FagorMastercook has been in bankruptcy for two years.