Bulgaria's CBA Asset Management seeks anti-trust nod to acquire SPMI

The deal is not expected to affect the respective markets in the country, a notice, drafted by the companies and published on the regulator's website, reads.

Interested parties have until December 27 to submit their statements regarding the transaction.

Last month, CBA Asset Management said that it is seeking approval from its shareholders to acquire 100% of SPMI for 60,000 levs ($34,000/31,000 euro). CBA Asset Management shareholders will vote on the proposal at a general meeting scheduled for December 30.

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 in 2018, according to its annual financial statement.

(1 euro = 1.95583 levs)