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Bulgaria's CBA Asset Management shareholders endorse plan to acquire SPMI

Bulgaria's CBA Asset Management shareholders endorse plan to acquire SPMI Author: Ken Teegardin. Licence: Creative Commons.

SOFIA (Bulgaria), January 17 (SeeNews) - Bulgarian diversified group CBA Asset Management [BUL:C81] said on Friday that its shareholders have approved on December 28 the proposed acquisition of 100% shareholding interest in local real estate investment company SPMI.

CBA Asset Management intends to buy all 60,000 shares of SPMI for a total of 60,000 levs ($34,000/31,000 euro), it said in a bourse filing.

Bulgaria's Commission for Protection of Competition (CPC) said last month that CBA Asset Management is seeking its approval for the acquisition. The notified deal is not expected to affect the respective markets in the country, the CPC said at the time. 

The competition regulator has not issued a decision on the deal yet.

Veliko Tarnovo-based SPMI owns a 50% stake in CBA, the operator of a supermarket chain under the CBA brand. CBA operates the supermarket chain under a licensing agreement signed with CBA Asset Management.

SPMI generated revenue of 5.7 million levs in 2018, the company's annual financial statement shows.

(1 euro = 1.95583 levs)

 

 

 

 

 

 

 

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