EC approves Żabka takeover

The European Commission has approved the CVC equity fund takeover of the retail chain Żabka. “The Commission concluded that the proposed acquisition would not raise competition concerns because the companies are not active in the same markets and because market shares in all vertically linked markets remain limited,” the Commission said in a statement. CVC acquired Żabka back in February from Mid Europa Partners for an undisclosed sum.Żabka owns over 4,500 convenience stores in Poland, with PLN 6 billion of annual revenue. The transaction still needs to be approved by the Polish anti-trust watchdog UOKiK.