February 25 (SeeNews) - Bulgaria's Commission for Protection of Competition (CPC) said that it has approved local diversified group CBA Asset Management's [BUL:C81] proposed acquisition of 100% in local group SPMI.
The deal is not expected to affect competition on the local market as the two companies operate on different segments, the competition regulator said in its decision on Monday.
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Veliko Tarnovo-based SPMI holds 50% in CBA, the operator of a supermarket chain under the CBA brand. CBA operates its supermarket chain under a licensing agreement signed with CBA Asset Management.
SPMI generated revenue of 5.7 million levs ($3.2 million/2.9 million euro) in 2018, according to its latest annual financial statement.
(1 euro = 1.95583 levs)