Romania’s Competition Council said on August 21 that it authorized the transaction through which Ioan-Bogdan Buta and Mozaik Investments GmbH intend to take over Untold Universe, the company that organizes the famous Untold festival. 

Mozaik is an investment company with offices in Austria and Romania. Ioan-Bogdan Buta is a local entrepreneur, founder of the Untold festival held in Cluj-Napoca and the Neversea festival in Constanta. 

“Following the analysis, the Competition Council found that this operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and that there are no serious doubts regarding its compatibility with a normal competitive environment,” reads the announcement.

Mozaik Investments signed in February 2023 a binding agreement to buy a minority stake in the Untold group, the largest player in the entertainment market in Eastern Europe. The partnership aims at the international expansion of the Untold brand, founded in Cluj-Napoca in 2015. 

The Untold Group carries out management, marketing and advertising activities and is mainly active in the entertainment industry in Eastern Europe through the Untold festival. In addition to Untold, the group also organizes the Neversea festival at the seaside, the Massif winter festival in Poiana Braşov, and the West Side Christmas Market in Bucharest.

irina.marica@romania-insider.com

(Photo source: Facebook/Untold)