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Oct 03, 2019 14:27 EEST
October 3 (SeeNews) - Bulgaria's Commission for Protection of Competition opened on Thursday proceedings regarding financial and insurance group Eurohold Bulgaria's [BUL:4EH] planned acquisition of the local assets of Czech energy group CEZ, competition regulator data shows.
Interested parties have until October 10 to submit their statements regarding the planned transaction, a notice published on the regulator's website reads.
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The two groups operate on different market segments and the transaction is not expected to affect competition, the notice reads.
On June 20, Eurohold Bulgaria signed an agreement to acquire CEZ' assets in Bulgaria for 335 million euro ($367 million). Eurohold Bulgaria will finance the acquisition through both equity and debt financing, it said at the time.
CEZ's assets in Bulgaria comprise power utility CEZ Distribution Bulgaria [BUL:3CZ], power supplier CEZ Electro Bulgaria [BUL:1CZ], licensed electricity trader CEZ Trade Bulgaria, IT services company CEZ ICT Bulgaria, solar park Free Energy Project Oreshetz, biomass-fired power plant Bara Group and CEZ Bulgaria.
Eurohold, CEZ Distribution and CEZ Electro shares had not traded on the Bulgarian Stock Exchange by 12:05 CET on Thursday.
Eurohold Bulgaria's portfolio currently includes companies active in financial services, leasing, insurance and car sales.
($ = 0.9119 euro)
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