November 25 (SeeNews) - Bulgaria's Commission for Protection of Competition said on Monday that it has imposed a 53,172 levs ($29,942/27,186 euro) fine on local power projects developer Energeo, a wholly-owned unit of local group Geotechmin, over unfair competition practices.
Energeo has acquired data concerning the operations of local Ritam-4-TB from one of Ritam-4-TB's former employees, and used the information to attract clients, the competition regulator said in a statement.
Ritam-4-TB's former employee - M. Stoynov, was also fined 5,000 levs.
Energeo generated a turnover of 53.2 million levs in 2018, and closed the year with a net profit of 1.2 million levs, according to its annual financial statement.
The Geotechmin group posted revenue of 628.3 million levs last year and a net profit of 148.3 million levs.
(1 euro = 1.95583 levs)