Bulgarian regulator clears Europapier Bulgaria buy of Micro Asu

The notified transaction will not harm competition despite creating a horizontal overlap on the Bulgarian market for the distribution of visual communication print materials for outdoor advertising, the Commission on Protection of Competition (CPC) said in a statement on Wednesday.

In 2022, the companies' combined share on the visual communication materials distribution market was in the 20 - 30% range.

The CPC found that following the acquisition, the group's combined market share in the country will place it first among its main competitors. However, the transaction will not lead to a dominant position as most of this share is formed by the target company.

Under the deal, Europapier Bulgaria will acquire direct ownership of 100% of Micro Asu's equity capital, which amounts to 6,000 levs ($3,327/3,068 euro). The transaction aims to bolster Europapier's presence on the Bulgarian wholesale market for visual communication materials and consumables and diversify its portfolio.

Europapier Bulgaria, founded in 2002, is part of Austria's Europapier Group, which operates in 13 countries across Central and Eastern Europe, its website shows.

Plovdiv-based Micro Asu, founded in 1993, has a subsidiary in North Macedonia, Micro Asu Skopje.

(1 euro = 1.95583 levs)