The transaction has recently been approved by the Competition Council. The entire sum paid by Vinci Energies to control TIAB was not disclosed. Vinci Energie took over 18 percent of TIAB's shares from SIF Muntenia in June this year, for EUR 3.5 million. The company increased its stake by buying shares from Setar Spa-Italia, Lemar Investment and from TIAB's employees.
TIAB, active in the industrial construction field, car making and chemical industry, accounted for EUR 32 million in turnover last year, a 33 percent increase on the previous year.
Local Vinci Energies was set up this year and is active in the electrical installations field. The company is owned by Vinci Energies, the French company, which reported EUR 3.6 billion in turnover last year.